China slashes gasoline and diesel prices by the most since 2008 to try and match the recent drop...
China slashes gasoline and diesel prices by the most since 2008 to try and match the recent drop in world crude. The trouble for the nation's refiners is product prices were never allowed to rise commensurately with oil when it was moving higher. Sinopec (SNP) had a Q1 refining loss 16X greater than a year ago. PetroChina (PTR), a near doubling.
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