China cuts refined oil prices

时间：2007-01-15 00:40:42

（单词翻译:单击）
 
BEIJING, Jan. 14 - China has decided1 to cut the price of gasoline by 220 yuan (about 28 U.S. dollars) per ton as of Jan.14, the National Development and Reform Commission (NDRC) announced here Saturday.

 

The factory price of kerosene2 for aviation will also drop by 90yuan, the NDRC said in a circular released Saturday night.

 

The national development planner asked the two oil suppliers, China National Petroleum3 Corporation and China Petroleum and Chemical Corporation (Sinopec) to lower prices under the decision and guarantee supply of processed oil to meet market demands.

 

This is the second time in recent five years for China to lower the prices of refined oil. The last price cut was in May 2005 when international price declined.

 

China has raised the price for refined oil products 12 times since 2003, including twice in 2006.

 

The international crude oil price has been declining since last September after the price hit record high of over 77 U.S. dollars per barrel in last July.

 

New York Mercantile Exchange (NYMEX) prices for February delivery of light, sweet crude oil stood at 51.88 U.S. dollars per barrel on Thursday, the lowest since May 2005.

 

The decline of international price has prompted complaints of domestic refined oil consumers, who have been calling for price cuts, as well as proposals of experts who are expecting the launch of a pricing mechanism4 linking domestic refined oil prices more closely to its international counterparts.

 

As the domestic price regulator, however, the NDRC has kept refined oil prices relatively5 low compared with the international level, even when the prices on the international market were soaring.

 

The Chinese government has endeavored to map out a pricing system for refined oil in line with China's own conditions. However, the fluctuation6 of international oil price, which usually sees jump rather than decline, leaves little room for the government.

 

In March of 2006, China launched a preliminary move to lift refined oil prices, while setting up a mechanism to offer subsidies7 to disadvantaged communities and public service sectors8 and collect special fees from oil producers who sell domestically produced crude oil.

 

Experts said cutting domestic refined oil prices may offer opportunities to levy9 fuel oil tax, which was first proposed in 1994 and has been delayed for concerns that it would impose a burden on those who consumed more oil, such as bus and taxi drivers.

 

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点击收听单词发音收听单词发音  

1 decided lvqzZd     
adj.决定了的，坚决的；明显的，明确的
参考例句：
  • This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
  • There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。
2 kerosene G3uxW     
n.(kerosine)煤油，火油
参考例句：
  • It is like putting out a fire with kerosene.这就像用煤油灭火。
  • Instead of electricity,there were kerosene lanterns.没有电，有煤油灯。
3 petroleum WiUyi     
n.原油，石油
参考例句：
  • The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
  • The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。
4 mechanism zCWxr     
n.机械装置；机构，结构
参考例句：
  • The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
  • The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。
5 relatively bkqzS3     
adv.比较...地，相对地
参考例句：
  • The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
  • The operation was relatively painless.手术相对来说不痛。
6 fluctuation OjaxE     
n.(物价的)波动，涨落；周期性变动；脉动
参考例句：
  • The erratic fluctuation of market prices are in consequence of unstable economy.经济波动致使市场物价忽起忽落。
  • Early and adequate drainage is essential if fluctuation occurs.有波动感时，应及早地充分引流。
7 subsidies 84c7dc8329c19e43d3437248757e572c     
n.补贴，津贴，补助金( subsidy的名词复数 )
参考例句：
  • European agriculture ministers failed to break the deadlock over farm subsidies. 欧洲各国农业部长在农业补贴问题上未能打破僵局。
  • Agricultural subsidies absorb about half the EU's income. 农业补贴占去了欧盟收入的大约一半。 来自《简明英汉词典》
8 sectors 218ffb34fa5fb6bc1691e90cd45ad627     
n.部门( sector的名词复数 )；领域；防御地区；扇形
参考例句：
  • Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
  • Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》
9 levy Z9fzR     
n.征收税或其他款项，征收额
参考例句：
  • They levy a tax on him.他们向他征税。
  • A direct food levy was imposed by the local government.地方政府征收了食品税。

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