Sinopec reduced ex-refinery prices of oil products by Yuan 300/mt on Oct 9, in line with the government's cuts in benchmark prices, according to sources with subsidiary refineries of the oil major.
After the decreases, ex-refinery prices of 90-Ron gasoline and zero pour point gasoil Yuan 8,180/mt and Yuan 7,330/mt, respectively.
In South China's Guangdong Province, where GB III fuel became popular in 2010, ex-refinery price of GB III 90-Ron gasoline is Yuan 180/mt higher than GB II grade and that of GB III zero pour point gasoil is Yuan 160/mt above GB II grade. In the capital city of Guangzhou, which spread use of GB IV oil products from August 2010, ex-refinery price of GB IV gasoline is Yuan 380/mt higher than GB II grade.
Yanshan Petrochemical pegged ex-refinery prices of GB IV gasoline and gasoil for supplying the Beijing market Yuan 480/mt and Yuan 380/mt higher than GB II grades.
In Shanghai, ex-refinery prices of GB IV gasoline and gasoil is Yuan 380/mt and Yuan 450/mt higher than GB II products.
GB IV fuel standards require gasoline and gasoil with sulfur content at 50ppm. Under GB III fuel standards, gasoline content is 150ppm and gasoil is 350ppm.
