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No Rush to Gas Up as City Lowers Pump Prices

No Rush to Gas Up as City Lowers Pump PricesAs of yesterday gas stations in Shenzhen have lowered pump prices after Guangdong’s provincial pricing authorities lowered retail price of the Guangdong IV standard No. 93 gasoline from 7.86 yuan to 7.75 yuan per liter a decrease of .11 yuan. Meanwhile the No. 97 gasoline decreased by .12 yuan and is now at 8.4 yuan a liter.

The price cut was in line with the price standard set by the National Development and Reform Commission. But even with the decrease in pump prices, gas stations didn’t see a rush of customers coming in to fill up their tanks. Vehicle owners are saying the price cut is not that much and it could only save them 1 yuan for every 100 kilometers, taxi drivers commented that is the price cut was bigger it could help them save more a day since the consume around 50 liters of gasoline each day.

Shenzhen is one of the six cities that recently lowered their gas prices as of yesterday. These six cities were chosen in 2010 to pilot the use of Guangdong IV fuel during its initial stage of production.

In September the National Development and Reform Commission increased the prices of gasoline by 290 yuan and diesel by 370 yuan per ton since the quality if these fuels will be upgraded to the National IV standards. These mean that other cities in the Guangdong Province will be paying an additional 60 yuan per ton to use the Guangdong IV fuel as the province is planning to start using National IV fuel by next year.



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