www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

National

Regional

Taiwan, HK, Macao

Special Coverage

Focus

Society

Profiles

Oil price system 'reflects world changes more quickly'

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

BEIJING - 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:  China raises gasoline, diesel prices 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.