#CNPC experts call for reform of China's refined oil pricing scheme
Thursday, 21 May, 2020, 16:30
Researchers at an energy think tank affiliated with China National Petroleum Corp (CNPC) are calling for the reform of China’s fuel pricing system by removing the floor price or allowing state companies to spend the money to boost oil output.
China adjusts its retail fuel prices to reflect Brent crude oil prices between a band of $40 to $130 a barrel. When Brent prices are below $40 - they are currently at $36.52 - retail gasoline and diesel prices will not be cut lower by the state planner, even if oil prices drop further.
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