PetroChina boosted its inner settlement price of Daqing crude for eight straight months in April, hitting Yuan 5,652/mt with tax exclusive, up Yuan 532/mt or 9.4% on month, according to a source with the oil tycoon.
The price was calculated on the basis of changes in international crude prices during Feb 26-Mar 25, when FOB price of main benchmark crude Cinta hit US$110.612/bbl, C1's record showed.
The April inner settlement price swelled 41% compared with a year earlier, hitting the highest level since 2008, indicated C1's data.
PetroChina's April inner settlement prices of most crude surged Yuan 530-580/mt.
Some major refineries in China suffered from negative refining margins amid roaring international crude prices against laggard hikes in government-capped oil product prices, said refinery sources.
