Experts say that by opening the oil product wholesale market in China, market influences will gradually replace government control to play a greater role in this market than formerly. Chinanews, Beijing, Dec. 28 – High oil prices make more Chinese public feel the pressure it brings on them. It is said that oil prices will continue to hover at a high level next year, the China Economic Times reported.
China will open the oil product wholesale market from January 1, 2007. Experts say that by opening the oil product wholesale market, market influences will gradually replace government control to play a greater role in this market than formerly.
“If oil prices continue to climb, I will have to change my present car for a car with a smaller displacement,” said Ms. Chen, who works in an office in the International Trade Center in Beijing. She currently drives a 2-litre car and plans to change for a smaller-displacement car next year.
“Oil prices keep rising throughout the year. Why can oil suppliers always raise its oil prices? If it is reasonable for them to raise the oil prices under the excuse of keeping in line with international standards, why do our salaries always remain at the same level?” , Mr. Li complained. He lives by the south of the Third Ring Road. The increasing oil price drove him mad.
The reporter’s investigation shows that in 2006, people’s expenditure on transportation increased greatly. In a word, most people spend more money than they used to when going on. Airliners and tourist agencies have also raised fuel surcharges to passengers and tourists.
“We had considered the public’s payment ability before we raised the oil prices. However, the public felt that the rising range was very large, probably because the interim period between several price raises was very short. In March this year, we raised the oil price by a large margin, which might also have a lingering effect on the public,” an expert at the Energy Research Institute of the State Development and Reform Commission told the reporter.
