Sharp Fluctuations of Oil Price

In May, the National Development and Reform Commission raised the prices of gasoline, diesel and aviation kerosene by 10 percent, the highest hike in recent years. The soaring price of crude oil on the international market, remaining at over US$70 per barrel for prolonged periods, contributed to the decision. The price hikes continued the policy of reducing the gap between international and domestic prices and connecting domestic market fluctuations to those of international crude oil.
· Prudence Needed in Reducing Domestic Refined Oil Price
· World Oil Prices Hit Record US$78
· China Offers 8.48 Bln Yuan in Oil Price Subsidies
· Oil Market Should Be Stabilized
· Plan Introduced to Address Oil Price Hikes
· Retail Prices of Finished Oil Raised
· Gasoline Retail Prices Rise
· Gov't Freezes Retail Oil Prices
· China Seeks Ways to Cope with Oil Price Rise
· World Oil Price Spike Hits Chinese Market
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