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  1. Asia feels double the pain as high oil prices hit all sectors

    Posted Aug 11th 2005, 12:00am by Tom Holland

    ... in the first half of the year, official estimates show. Although refiners have been allowed to pass on some of their costs through higher petrol and diesel prices, they still face wafer-thin or even ... Higher energy prices are beginning to bite. Yesterday, Cathay Pacific became the latest victim, reporting a 5.7 per cent fall in first-half profits after its fuel costs shot up 73 per cent ...

  2. Soaring oil price highlights need to reform the system

    Posted Aug 15th 2005, 12:00am by Wang Xiangwei

    ... and diesel prices are among the lowest in the world, even lower than in the United States, although China has already become the world's second-largest oil importer and has far less oil than ... impact on the Chinese economy. More important, soaring oil prices have again highlighted the urgent need to reform the distorted national mechanism for the pricing of refined oil, which has ...

  3. Fare rises sought amid oil price surge

    Posted Aug 30th 2005, 12:00am by May Chan

    ... May Chan Transport and logistics service providers are under pressure to raise fares, with their costs growing amid increasing oil prices and high fuel taxes. Operators of more than 40 ... Long. A spokesman for one of the companies, Kwok Chung, said a price increase was inevitable as costs continued to climb. 'In the past 12 months, oil prices have increased more than 30 per ...

  4. Oil prices threatening economic growth

    Posted Aug 13th 2005, 12:00am by Staff Reporter

    ... Lillian Yang in Shanghai Surging oil prices are threatening to crimp the mainland's economic growth and could even cause social unrest as everyone from taxi drivers to farmers complains about higher costs, analysts said yesterday. International crude-oil prices have risen to more than US$65 a barrel and are likely to move higher, in part because of China's growing ...

  5. Gasbag, competition probe provide smoke screen for bigger issues

    Posted Aug 05th 2005, 12:00am by Jake Van Der Kamp

    ... with Jake van der Kamp 'Fuel is a commodity whose prices should not be easily adjusted by businessmen. There needs to be regulation.' Stanley Chaing Chi-wai Fuel price lobbyist I ABSOLUTELY AGREE. I think Mr Chaing should stand on a podium in the capital of Saudi Arabia and say: 'Listen, fellas, we're regulating the price of oil from now on. It's US$10 per ...

  6. Paper-shufflers out, but competition policy still lacks promise

    Posted Jan 18th 2005, 12:00am by Jake Van Der Kamp

    ... 1998. The first chart shows you what has been achieved. The red line represents the consumer price index (CPI) based to an index starting point of 100 for May 1995, when overall consumer prices ... is another matter. Take January 1981 as a starting base, with an index value of 100, and the red line in the second chart shows you the trend of underlying crude oil prices over the period. The blue ...

  7. Oil tax increases as Beijing claims a share of fat profits

    Posted Aug 10th 2005, 12:00am by Eric Ng

    ... exporters, as crude prices continue their seemingly inexorable ascent through record highs. The State Administration of Taxation said resource taxes levied on PetroChina and China Petroleum & ... to 22 yuan per tonne from 14 yuan. The tax increases will not affect downstream fuel prices, which are centrally regulated in China, and the added costs will be absorbed by primary producers. ...

  8. Duty-free fuel may be sold at border

    Posted Aug 18th 2005, 12:00am by Felix Chan

    ... recommended that its members charge an extra $100 per trip on shipments between Dongguan and the Kwai Chung Container Terminal. Caltex said the pump prices of its Vortex Platinum Gasoline and Vortex ... International prices continue to set new heights, pushing us to adjust our gasoline prices for cost recovery,' said Caltex general manager Yuen Ming-kwong. Caltex said it decided on the increase ...

  9. Beijing treads warily towards higher oil prices

    Posted Sep 14th 2005, 12:00am by Cary Huang

    ... with the international market, adding that petrol and diesel prices remained 1,500 to 2,000 yuan cheaper per tonne than global prices. 'This is a very complex issue and price rises in the international ... recently. Mainland petrol is priced 50 US cents a litre below benchmark prices in Singapore, while diesel is 20 US cents a litre cheaper. University of Petroleum professor Dong Xiucheng warned ...


    Posted Sep 04th 2005, 12:00am by Staff Reporter

    ... margins. The broker predicted that in 2005 total throughput volume would rise 12 per cent to 270 million tonnes as domestic demand for diesel, gasoline and fuel oil was soaring. The counter ... cent to 18.58 billion yuan, driven by the increase in demand for refined oil products. Rising oil prices were especially worrying for mainland refiners as increases in costs could not be passed ...




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