Will Oil price still increase?

　　The problem of oil price has already become the focus of the NPC and CPPCC this year. Although supply is still exceeding supply in the market, the expectation that the price of domestic refined oil will be increased is still growing. According to media reports, the deputy to the National People’s Congress, who participates the Two Conferences in Beijing, Rong Guangdao, president of Sinopec Shanghai Petrochemical Company Limited, disclosed that the domestic refined oil’s price will be soon increased.

　　Shenzhen Evening News reports, Zhang Dafu, deputy of the NPC and president of Sinopec Jinling Petrochemical Corp., LTD., gave an more specific schedule for the price raise. “It must be adjusted by the end of this month”. Zhang Dafu said. It is entirely “artificial” that the present oil price hasn’t been changed. To take into account to stabilize the market during the New Year in January and the Spring Festival in February, the oil price hasn’t been taken into action.

　　The last time to raise oil price is 10th November last year. The retail price of gasoline and diesel raised 480 Yuan per Ton with the growth rate of 7%, which has reached the highest record of the history. At that time, the international oil price was around 78.4 Dollar per Barrel. At present, the international price for oil is about 81.8 Dollar per Barrel.

　　See original Chinese report Please click:

　　http://auto.sohu.com/20100312/n270766370.shtml

　　(Jianfei Keke)