China: PetroChina raises gasoil inner settlement prices

Chemical News: China: PetroChina raises gasoil inner settlement prices

https://www.chemnet.com Aug 05,2010
PetroChina elevated Wednesday inner settlement prices of gasoil between regional marketing companies and provincial sales branches, by Yuan 100/mt for the sales branches in outside provinces and Yuan 50/mt for those inside, according to a company source.

The increases would stimulate provincial sales branches to continue to boost gasoil wholesale prices, market sources reckoned.

After the adjustment, the settlement prices averaged Yuan 6,776/mt in East China, Yuan 6,800mt in South China's Guangdong Province and Yuan 6,757/mt in North China.

Gasoil wholesale prices in the above regions are expected to stay firm in August due to supply tightness caused by turnarounds of PetroChina's subsidiary refineries in Northeast and Northwest China.

C1 reported earlier, PetroChina Daqing refinery and Jinxi Petrochemical went into overall turnarounds in August and PetroChina Lanzhou Refinery shut a 5-mil-mt/yr crude distillate unit for maintenance.

The inner settlement prices of gasoline were unchanged Wednesday.
PetroChina last adjusted inner settlement prices on Jul 23, lifting Yuan 50/mt for gasoil while cutting Yuan 100/mt for gasoline.

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