Fuel Prices Expected to Decline in Shenzhen

2012-April-24 Source: Szdaily web edition
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SHENZHEN is expected to see this year's first drop in fuel prices thanks to the ongoing global drop in the price of oil.

The price of oil has been in decline around the world since the end of March, due to increasing reserves and diminishing market demand, according to analysts.

An analyst with Zhuochuang Information Service Co. Ltd., Zhang Bin, said a decline in fuel prices would be likely if the price of oil continues to decline, adding that frequent rainfall in parts of South China had restrained demand for all.

A private gas station at Meilin Checkpoint has reduced the price of 93-octane gasoline to 7.5 RMB (1.2 USD) per liter, much lower than the 8.37 RMB charged at most gas stations.

In Shenzhen, the price of a liter of 93-, 97- and 98-octane gasoline rose to 8.37 yuan, 9.07 yuan and 10.31 yuan respectively starting late March, according to a fuel price adjustment plan announced by the National Development and Reform Commission.

Editor: 张莹
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