Retail fuel price to remain stable
China has decided to keep its retail fuel price stable for the coming 10 working days due to the small range of price increase, despite the new fuel pricing system entering its first adjustment period on Wednesday.
The new system launched in late March shortened China's fuel price adjustment period to 10 working days from the previous 22 days and removed the 4 percent limit.
The first adjustment will be postponed, because the fuel price adjustment was less than 50 yuan ($7.9) per ton. Such a small change would be carried over for consideration at the next adjustment, the National Development and Reform Commission, China's top economic planning agency, said on Wednesday.
The commission will post a notice on its website at 5 pm on each price adjustment day if there is an increase or decrease and if the adjustment range is lower than 50 yuan per ton, and if prices remain unchanged, the commission will post the information on its website at 3 pm on the day, it said.
