News
| Effects of fuel price hike[2008.07.07] | |
| China's central government has issued instructions to local governments to limit the domino effects of a recent fuel price rise. The notice was jointly issued by the National Development and Reform Commission, the Ministry of Finance and the Ministry of Communications. It tells local governments to take measures to alleviate the impact of the oil price hike on the transportation sector and to strictly control any other effects from the price hike. It emphasizes the importance of guaranteeing the stability of prices for city buses, taxis and rural transportation, though it does say that prices for road-based passenger transport can be adjusted based on market conditions. The notice has also ordered a crackdown on speculators seeking to profit from the fuel price hike by excessively raising prices for downstream products. |
