At 9:20 pm on June 29, China's National Development and Reform Commission (NDRC) announced a plan for the adjustment of refined oil prices, raising the prices for gasoline and diesel by 600 yuan per ton, and for aviation kerosene by 1,030 yuan per ton. It is the fourth time that the refined oil prices have been adjusted this year. NDRC announced at the same time that the price for liquid gas will remain relatively stable, and some discounts will be offered to the fishery industry in order to ......
Esa Ramasamy, editorial director, Americas oil market reporting, discusses why US refiners are shutting down plants even though oil prices have reached record highs for this year....
Oil prices dropped below 70 U.S. dollars a barrel on Friday, dragged by a 5-percent decline in gasoline price. Light, sweet crude for July delivery dropped 1.82 dollars, or 2.6 percent, to settle at 69.55 dollars a barrel on the New York Mercantile...
