LPG wholesale prices kept rising in South China in November, in line with price increases in international market, approaching the ceiling set by the government, a survey found.
LPG ex-refinery prices of major refineries in South China were Yuan 6,650-6,700/mt Thursday, versus cap of Yuan 6,826.4/mt, some data showed.
"We are prudent in further boosting LPG prices now," said a refinery source.
The refineries and LPG terminals in South China recorded low LPG stocks at present.
Major refineries did not raise LPG ex-refinery prices above government-regulated ceilings since the current oil product pricing mechanism took effective in May 2009.
The National Development & Reform Commission, China's energy watchdog, regulated that the upper limit for LPG ex-refinery prices should be 92% of gasoline ex-refinery prices.
LPG ex-refinery prices of major refineries in South China were Yuan 6,650-6,700/mt Thursday, versus cap of Yuan 6,826.4/mt, some data showed.
"We are prudent in further boosting LPG prices now," said a refinery source.
The refineries and LPG terminals in South China recorded low LPG stocks at present.
Major refineries did not raise LPG ex-refinery prices above government-regulated ceilings since the current oil product pricing mechanism took effective in May 2009.
The National Development & Reform Commission, China's energy watchdog, regulated that the upper limit for LPG ex-refinery prices should be 92% of gasoline ex-refinery prices.
