PetroChina lifted inner settlement prices by Yuan 50/mt for gasoline that its Northeast China Marketing Company supplies to provincial sales branches outside the region, effective from Sep 9, according to sources with PetroChina.
The prices were raised for gasoline supplied to subsidiary companies in Beijing, Hebei, Shandong, Shanghai, Fujian, Jiangxi, Henan and Guangdong, the sources said.
The rises were in line with gains in international crude prices, the sources also said, adding the inner settlement prices were relatively low as domestic gasoline supply was tightening.
PetroChina boosted inner gasoline prices which became relatively low after wholesale prices rose on rebounding international crude, a source explained. Compared with provincial branches' selling prices, inner prices were about Yuan 250/mt lower before the markup, the source said.
The markup in inner prices may push up gasoline wholesale prices.
Gasoil inner settlement prices were unchanged.
PetroChina last adjusted inner settlement prices of oil products on July 25, hiking the inner price of gasoline by Yuan 50/mt, without adjusting gasoil prices.
