TABLE-China retail fuel price changes since 2003

Thu Jun 19, 2008 6:08pm BST
 
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 BEIJING, June 19 (Reuters) - China said on Thursday it would
raise its nationwide retail diesel and gasoline prices by 1000
yuan, or about 18 and 17 percent respectively, from June 20th --
the first increase in over seven months.
 The move, accompanied by increases in jet fuel and
electricity prices, came despite Beijing's focus on fighting
inflation, which earlier this year climbed to the highest level
in over a decade and in May still stood at 7.7 percent.
 It follows growing nationwide shortages of diesel fuel as
refiners cut back output to avoid losses, and will improve
revenues for state oil giants Sinopec (SNP.N) and PetroChina
(PTR.N), although pump rates still lag the rising cost of crude
CLc1, which closed at $136.68 a barrel on Wednesday.
 Since the start of 2003, China's domestic gasoline prices
have climbed 95 percent and diesel prices have more than
doubled, but in the same time period global crude oil prices
have risen over fourfold, or by around $100 per barrel.
 The June 20 prices given are reached by updating nationwide
averages given last November by the National Development and
Reform Commission, the country's top economic planner.
 They may be updated if the government issues new official
nationwide averages.
 Previous to November 1, 2007 rates were for the southern
province of Guangdong, the country's manufacturing hub and the
largest oil consumer by province.
 Service stations are allowed to charge within 8 percent of
the fixed regulated rate. They charge the maximum most of the
time as international prices remain much higher.
 Date        Product     Change  Pct Change   New Price US Crude
 2008 ----------------------------------------------------------
 June 20      Gasoline   +1000     +16.7       6,980   $136.68
                                            (75)
           Diesel     +1000     +18.1       6,520
                                            (70)
 2007 ----------------------------------------------------------
 Nov 1***     Gasoline    +500      +9.1       5,980    $94.00
                                            (64)
           Diesel      +500     +10.0       5,520
                                            (59)
 Jan 14       Gasoline    -220      -3.8       5,515    $52.99
                                            (59)
 2006 ----------------------------------------------------------
 May 24       Gasoline    +500      +9.6       5,735     $70.44
                                            (62)
           Diesel      +500      +11        5,040
                                            (54)
 March 26     Gasoline    +250      +5.0       5,235     $64.26
                                            (56)
           Diesel      +150      +3.4       4,540
                                            (49)
       Beijing-Mogas   +460      +9.4       5,370
       Beijing-Diesel  +340      +7.9       4,665
 2005 ----------------------------------------------------------
 July 23      Gasoline    +300      +6.4       4,975     $58.65
                                            (54)
           Diesel      +250      +6.0       4,390
                                            (47)
 June 25      Gasoline    +200      +4.5       4,675     $59.84
                                            (50)
           Diesel      +150      +3.8       4,140
                                            (45)
 May 23       Gasoline    -150      -3.2       4,475     $46.80
                                            (48)
 May 10       Diesel      +150      +3.9       3,980     $52.07
                                            (43)
 March 23     Gasoline    +300      +6.9       4,625     $53.81
                                            (50)
 2004 ----------------------------------------------------------
 Aug 25       Gasoline    +240      +5.9       4,325     $43.47
                                            (47)
           Diesel      +220      +6.1       3,830
                                            (41)
 May 19       Diesel      +280      +8.4       3,610     $41.50
                                            (39)
 March 31     Gasoline    +300      +7.9       4,085     $35.76
                                            (44)
 2003 --------------------------------------------------------
 Dec 8        Gasoline    +200      +5.6       3,795     $32.10
                                            (41)
           Diesel      +180      +5.7       3,330
                                            (36)
 July 1       Gasoline     +90                 3,595**   $30.40
                                            (39)
 May 12       Gasoline    -290      -7.7       3,474     $27.35
                                            (37)
           Diesel      -260      -7.6       3,143
                                            (34)
 Feb 11       Gasoline    +190      +5.3       3,764     $35.44
                                            (40)
           Diesel      +170      +5.3       3,403
                                            (37)
 Jan 1        Gasoline                         3,574     $31.20
                                            (38)
           Diesel                           3,233
                                            (35)
 * All Chinese prices in yuan per tonne. The ones in bracket
below are being converted to U.S cents per litre.
 ** Prices between May and from July 2003 are shifted slightly
to make uniform throughout the country and due to rounding.   
 *** Prices for Nov. 1, 2007, are nationwide averages.
 Sources: National Development and Reform Commission, oil
 companies, industry sources.
  (Reporting by Chen Aizhu; Editing by Emma Graham-Harrison)


 

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