CHINA Petroleum & Chemical Corp and PetroChina Co have raised wholesale fuel prices in Beijing because of the higher cost of crude oil and after shutting refineries for maintenance, the Beijing News reported.
Prices for RON 90 gasoline were raised by about 80 yuan (US$10.60) a metric ton at China Petroleum, or Sinopec, and 100 yuan at PetroChina, the Chinese-language newspaper said. Prices for RON 0 diesel were increased by 30 yuan a ton at Sinopec and 80 yuan at PetroChina, it said. PetroChina also raised the price of RON +5 diesel by 100 yuan a ton. The companies have been making losses at their refining divisions since May after international crude prices climbed, the report said, citing an unnamed official at Sinopec.