China Drops the Price of Aviation Fuel
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Tuesday, 13 October 2009 |
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China has cut the price of aviation fuels by about 4 percent,
reflecting recent falls in international crude oil prices, according to
an announcement from the National Development and Reform Commission.
The Commission announced the reductions on its website. An
accompanying table showed the ex-factory price of aviation fuels,
including types 1 to 4 jet fuel, will fall by 200 yuan ($29.3) per
tonne. China's ex-factory price of type 1 jet fuel has been set
at 4,940 yuan ($723.9) a tonne.
An oil industry official told media that China's aviation fuel market
is likely to grow at 7-8 percent next year, quickening from this year
but off the double-digit growth of recent years. China National
Aviation Fuel Holding (CNAF), parent of Singapore-listed China Aviation
Oil almost monopolises the country's jet fuel distribution
sector. Jet fuel makes up only 4 percent of China's total fuel
market, the world's second-largest after the U.S.
PetrolWorld 111009 Source: www.ndrc.gov.cn
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