Gas Stations Offering Lower Gas Prices to Motorists
Motorists can now pay 0.5 yuan per liter less for No. 93 gasoline since private gas stations have lowered their fuel prices in hopes of attracting more customers, when they pay in cash at the Pubing gas stations in Futian District.
The gas station is also offering discounts to motorists by giving away prepaid cards. So far the lowest price for a liter of No. 93 gasoline was at 6.8 yuan. Some gas stations found in Bao’an district were also offering discounts from 0.3 yuan to 0.25 yuan a liter.
Analysts are saying that even with price cuts, these gas stations can still make a profit since there is a large gap between wholesale and retail prices. A small private gas station can earn more than 200,000 yuan a month by selling at least ten tons of gasoline. The wholesale price for a ton of No. 93 gasoline is 9,500 yuan while the retail price for a ton of No. 93 gasoline can range from 10,400 yuan up to 11,020 yuan.
Domestic gas suppliers are still maintaining their retail prices at their stations, Sinopec however, have dropped their retail prices in Hong Kong four times already this year. A large number of domestic consumers are starting to complain about high retail prices that have remained, even with international crude oil prices having dropped recently.