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(People's Daily Online)    10:20, January 04, 2014
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New pricing mechanism for refined oil

On March 26, the National Development and Research Commission announced a new pricing mechanism for refined oil in an effort to better reflect changes in the global oil market. The new system reduced the price adjustment cycle from 22 working days to 10 working days, canceled a 4-percent floating band for oil price changes, and adjusted the varieties of crude used to calculate price changes for domestic oil products.

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(Editor:ZhangQian、Yao Chun)

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