Local fuel stations stocking oil to cope withexpected price hike

mandate

K
    ey  benchmark  swinging  domestic  
    fuel  price was  continuing  to  rise  
    after  prices  of  gasoline  and  diesel  
    were  cut  for  three  times  in  a  row on  July 11. The  requirement  to  raise  fuel price  is  reached  four months  later.  
       Analysts  predicted  that  the  gas  and diesel prices  are  set  to  rise  recently. According  to Business News of China National Radio,  crude  oil  price  in Brent, Cinta  and Dubai  rose  about 7 percent by Thursday when  domestic  gas  and  diesel might  be  increased  350  yuan  per  ton, which means  popular-used  octane  93  gas and octane 0 diesel would be  raised by 0.3 yuan  per  litre. Off  course,  the  gas  and diesel prices  in Shenyang will  rise  above 7 yuan mark with octane 93 gas  and octane 0 diesel up  to 7.2 yuan and 6.99 yuan.  
       "We've heard of  such  rumours but we have no  idea  about  the  timetable  and  size of  the  rise,"  a  source with Sinopec Liaoning Branch  told  the Commercial Times. The official notice  is  traditionally  issued  at the very night  to  adjust  fuel price. There are  a  lot of  rumours on  the hike but  fuel price  is unchanged,  the  source  added, what they could only do  is waiting before  formal notice  is  released.  
       Local wholesale prices of gas and diesel are  increased  amid  the  strong  expectation: octane  93  gas  sales  are  curbed  in Henan and  Inner Mongolia. Although  supply  of the  popular-used  gas  is  still  adequate  in Shenyang, promotion  launched by  local gas stations  is weakening.  
       Compared with  the  two energy giants, private  fuelling  stations  are  losing  their strength  in price.
        Industry  insiders  said many  retailers  are waiting