Crude Stopped Falling at $40 a Barrel for Chinese Consumers
- Fuel price won't be adjusted as long as crude is below $40
- Profits to promote conservation, pollution reduction, security
Finding Signs of Price, Demand Hope in Oil Markets
This article is for subscribers only.
For consumers in China, the benefit of oil’s crash stops at $40 a barrel.
That’s because the retail price of fuels such as gasoline won’t be cut in line with crude as long as it trades below that level, according to the country’s top economic planner. The policy is aimed at curbing consumption, cutting pollution and securing supply, the National Development and Reform Commission said when it unveiled the plan last week.