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          BIZCHINA> Top Biz News

          


          

          
          		

          

          


          

          


          

          



          

          


 

          


          


 

          


          

          


 

          



          New oil pricing mechanism 'reflects market changes more quickly'
          


          (Xinhua)
          
 Updated: 2009-03-26 20:39
          



 

          

          China's new pricing mechanism for oil products, based on movements in international crude prices every 20 days, was used to calculate this week's fuel price hikes, Peng Sen, deputy head of the National Development and Reform Commission said Thursday.
          


          

          

          


          


          


          


          


          


          


          Related readings:
          
          New oil pricing mechanism 'reflects market changes more quickly' China raises gasoline, diesel pricesNew oil pricing mechanism 'reflects market changes more quickly' Gas price hike on cards
          

          
          		

          
          

          
          		

          
          

          
          		

          
          

          

The commission is the country's top economic planner.
          


          Under the pricing mechanism, China considers changing benchmark retail prices of oil products when the international crude price rises or falls by a daily average of 4 percent over 20 days, Peng said.
          


          The mechanism means domestic prices reflect changes in the market more quickly and accurately, he said.
          


          

          (For more biz stories, please visit Industries)
          

          

          

 



 



          


          


 

          

          

          


          

          


 

          


          


 

          


          


 

          


          


          


 

          

          

          
          		

          

          








           
          


           
          



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