Martin Li, Hu Diemeng

    martin.mouse@163.com

    RETAIL prices of gasoline will drop by between 0.29 yuan (US$0.047) and 0.34 yuan per liter in Shenzhen today, according to the Shenzhen branch of Sinopec, China’s largest oil refiner.

    The retail price of No. 92 gasoline, the variety most commonly used as automobile fuel, will decline from 6.09 yuan to 5.80 yuan per liter.

    The retail price of No. 95 gasoline will drop by 0.32 yuan to 6.28 yuan per liter. No. 98 gasoline will now sell for 6.73 yuan per liter, 0.34 yuan less than the previous price.

    The retail price of diesel will decline by 0.30 yuan to 5.24 yuan per liter.

    The last price cut took effect Jan. 13, with a rise in consumption tax on oil products.

    Yesterday, China’s top economic planner, the National Development and Reform Commission, announced a cut to the retail price of gasoline by 365 yuan per ton and on diesel by 350 yuan per ton.

    It is the 13th consecutive fuel price cut since July last year.

    Despite the continuing price decreases, several drivers in Shenzhen told Shenzhen Daily that they want cheaper gasoline.

    “Gasoline prices (in China) are still very high and a reasonable price should be about 3.50 yuan per liter. The price cut should keep pace with the sharp price decline of the international market,” said a driver surnamed Liu.

    Liu said he spends 1,000 to 2,000 yuan on No. 95 gasoline each month for his multipurpose vehicle.

    In the past nine working days, crude oil prices have fallen by 11.2 percent, Xinhua reported Sunday.

    Another driver, Zou, said a reasonable price is around 3 yuan per liter.

    “I spend 600 yuan on No. 92 gasoline for my private car each month,” said Zou.

    A taxi driver, Huang, also said domestic fuel prices should change at the same pace with the international market. “It should be lowered to 3.90 yuan per liter,” said Huang.

    China adopted a pricing system last year that adjusts domestic fuel prices when international crude prices change by more than 50 yuan per ton for 10 working days.