China likely to cut fuel prices this month: analysts
时间：2012-10-08 02:22:02
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China likely to cut fuel prices this month: analysts2
BEIJING, Oct. 6 (Xinhua) -- China is likely to cut its gasoline and diesel3 prices this month, as the international crude oil prices to which China's prices are linked are expected to head south.
Data released by Chem99.com, a major oil industry service provider, showed that as of Friday, the basket of crude oil prices used to calculate China's own fuel prices, namely Brent, Cinta, and Dubai, went down by an average of 1.86 percent since a previous adjustment last month.
Weighed down by worries over weak global growth, the prices will likely to see further slides, analysts said.
"If the prices maintain their current downward pace, the changing rates will move beyond the 4-percent window," said Zheng Xiaorui, an
analyst1 with 315.com.cn, another industrial service provider.
China adopted an oil pricing
mechanism4 in 2009 that allows China's top economic planner, the National Development and Reform Commission (NDRC), to adjust
retail5 fuel prices when international crude oil prices change by more than 4 percent over 22 working days.
Chem99.com analyst Zhu Chunkai predicted the mechanism will take effect on Oct. 18.
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