China to relax fuel prices when oil below $130/bbl


BEIJING, Nov 28 (Reuters) - China's fuel price and tax reform will allow prices to move more often and hand more control to companies when a basket of global crude oil prices is below $130 per barrel, an official source familiar with the issue said on Friday. The reform package, which the government intends to publish for public consultation, will allow retail prices to rise 4 percent above refinery gate prices, after factoring in the cost of transport and distribution. Refinery gate ...

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