However, according to feedback from Qingdao Customs, the customs authorities have not yet received official documents from the relevant parties, and the authenticity of the news still needs further confirmation. In addition, the Ministry of Finance and the Customs and Excise Department also said that for the time being no relevant news has been received.
However, Huangpu importers pointed out to CBI that it is still possible for the government to cut fuel tariffs. On the one hand, China’s economic construction is closely related to energy. In order to accelerate economic development, the country has always encouraged energy imports. On the other hand, the import cost of fuel oil is high, the market is weak and strong, and imports are “upside down†very seriously. Imports have been greatly impacted.
“In recent years, South China’s imports have continued to shrink, and this situation has intensified since entering 2008. Because of the high costs, the survival of importers is greatly threatened. It is time for the government to take measures.†The source said.
Industry sources pointed out that the current import tariff rate for fuel oil is 3%. If adjusted to 1%, import costs will decline. Take the Russian M100 as an example. In June, the average price of Singapore's 180CST added a premium of US$72/ton, and the price of CFR reaching Shandong was 6,219 yuan/ton. After the tariff reduction, it will save 117 yuan per ton.
As the country adopts a strict quota system for crude oil imports, Shandong Geotechnic has been facing a serious problem of oil shortage. Liu Aiying, chairman of the Shandong Refining and Chemical Industry Association, told this reporter earlier that due to the impact of state policies, crude oil allocation targets obtained from ground refining are far from meeting the needs of production and the operating rate of equipment is seriously insufficient. For example, the crude oil processing capacity of the Shandong refining industry reached 45 million tons/year, but the country's crude oil allocation index was only 1.6844 tons/year. Under this circumstance, Shandong Refining used a large amount of fuel oil as raw material for refining, and refined gasoline and diesel through deep processing to become a powerful supplement to the market supply. However, since the beginning of this year, the soaring international oil prices have driven fuel oil prices higher, and the pressure on Shandong's refining costs has been enormous.
Previously, the import tariff rates for refined products such as gasoline, diesel, light diesel oil, naphtha, and aviation kerosene have been reduced from the original 2% to 6% to 1%. On December 26, 2007, the Ministry of Finance issued a document requesting that from January 1, 2008, the import tariff on 5-7# fuel oil (Tax Code) be lowered from 6% to 3%; distillate below 350 degrees Volatile oils with less than 20% by volume and 5% by volume of distillates below 550 °C (Tax Code) have been reduced from 6% to 0%.
Some refineries delayed imports Recently market rumors, the country's recent adjustment of fuel import tariffs, from the previous 3% down to 1%. The reporter learned from CBI on the 2nd that due to this expectation, local refineries in Shandong have delayed some of the fuel oil originally planned for arrival in June to July to reduce import costs.