Govt may ease curbs on oil price

The government is expected to relax controls over retail oil prices in its domestic market soon, bringing them more into line with international prices, a National Bureau of Statistics official said.

Li Deshui, head of the National Bureau of Statistics, told a media briefing in Beijing yesterday that he believes the government will allow retail oil prices to rise in response to market forces in the near future, despite the flow-on inflationary effect on the economy.

“We should make full play of the market mechanism to find the real price,” he said.

Xinhua