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[China Epoxy Resin Industry Online] April 27, 2005: As a continuation of the three increases in domestic oil prices last year, on March 23, the National Development and Reform Commission once again raised the benchmark price of refined oil.
In the previous week, my country’s jet fuel prices had risen by 10%, and on April 1, Sinopec also took advantage of the opportunity to increase the ex-factory prices of gasoline, diesel, and naphtha.
This may mean that a new round of domestic oil price increases in 2005 is bound to burn our fragile oil nerves.
China's oil industry has responded to high prices with marketization.
It