China will impose a fuel oil tax in the near future, Chen
Deming, vice-chairman of the National Development and Reform
Commission, said yesterday, without elaborating.
He also said the country is waiting for the right time to adjust
its refined oil pricing mechanism.
Reform of the mechanism is closely tied to international oil
price fluctuations but the government has to consider people's
capacity to adapt to the changes, said Chen.
The purpose is to link the prices of refined oil products on the
domestic market more closely to international levels.
In March 2006, China first raised refined oil prices, while
offering subsidies to disadvantaged communities and public service
sectors.
(Xinhua News Agency April 3, 2007)