Happy days – Price of fuel falls at the pump

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Chinese drivers have been paying record prices for their fuel prices over the past six months, and today on Children’s Day, the government has lowered the price of fuel slightly at the pump, showing that somebody does indeed think of the children.

Gasoline prices have dropped by 230rmb per metric ton, and diesel has dropped by 220rmb per metric ton. Price changes in the price per litre are minimal, but are likely to be welcomed by motorists.

• 90# has fallen by 0.17rmb to 6.31rmb
• 93# has fallen by 0.18rmb to 6.74rmb
• 97# has fallen by 0.20rmb to 7.17rmb
• 98# has fallen by 0.28rmb to 7.72rmb
• 0# diesel has fallen by 0.19rmb to 6.69rmb

The last price rise was on April 14th, and saw gasoline prices rise by 320rmb per ton, but previous to that in November 2009 fuel rose by a record 480rmb per ton. The latest price lowering goes someway to undoing the damage that past three price rises have done, but we are a long way from the glory days of 3.5rmb a litre.