PRICES of the higher quality gasoline similar to the Euro IV Standard used in Europe rose by more than 2 percent Saturday after State authorities approved a pricing policy for the cleaner fuel, the Daily Sunshine reported Saturday.
Shenzhen introduced the National IV Standard gasoline Jan. 1 after a delay of several months. It was sold for the same price as the National III Standard fuel for a week.
The No. 93 National IV Standard gasoline is now 7.21 yuan (US$1.09) per liter, up 0.16 yuan per liter, while No. 97 fuel is now 7.81 yuan per liter, up 0.18 yuan.
The introduction of the new cleaner gasoline was approved in June when supply contracts were let to Sinopec, CNOOC and PetroChina. However, the implementation of the higher quality fuel was delayed twice because of a supply shortage and then pending approval of the pricing policy.
The cleaner gasoline would greatly reduce vehicle sulfur dioxide emissions, bringing total emissions down to 95,000 tons per year.
Guangzhou introduced the National IV Standard fuel on Aug. 1 ahead of the Asian Games. Beijing introduced the cleaner fuel before the 2008 Beijing Olympic Games and Shanghai adopted it in November 2009 ahead of the Shanghai Expo.
(SD News)
