Fuel Prices set to Increase in line with Fuel Adjustment Mechanism

Fuel Prices set to Increase in line with Fuel Adjustment MechanismFrom Tuesday retail prices of gasoline is set to increase in line with China’s fuel price adjustment mechanism and with the global crude price rise. The national Development and Reform Commission said that he retail prices of gasoline will increase by 225 yuan a metric ton or around 0.19 yuan a liter, while prices for diesel will be at 245 yuan per ton or 0.21 yuan a liter. After the price increase the benchmark price for a 90 octance grade gasoline will be at 6.23 yuan a liter. This is the third time that retail oil price have increased in a row for 2015.

So far there have been three cuts and five rises of retail fuel prices in 2015. Gasoline price went up to 570 yuan a ton and for diesel at 490 yuan a ton after all adjustments were done. Sources say that the next price adjustment will be expected on May.

the latest price adjustment as of follows, April 25, 2015 retail prices for gasoline increase by 300 yuan a ton and diesel by 285 yuan a ton. April 10, 2015 were gasoline price increased by 120 yun a ton and diesel increased by 115 yuan per ton. March 26, 2015 price of gasoline reduced by 240 yuan a ton and diesel by 230 yuan a ton. February 27, 2015 gasoline prices increased by 290 yuan a ton and diesel by 375 yuan a ton. February 9, 2015 gasoline was up to 290 yuan a ton and diesel at 280 yuan a ton. January 26, 2015 gasoline reduced by 365 yuan and diesel by 350 yuan a ton. January 12, 2015 gasoline was down to 180 yuan and diesel at 230 yuan per ton as tax on gasoline went up to 1.52 yuan per liter and 1.1 yuan for diesel.

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