Tuesday, May 27, 2008

Expert: oil prices in China may rise step by step

China is now fighting against mounting domestic inflationary pressure, but this does not mean there will be no rise of the oil prices, said Zhou Dadi, vice president of China Energy Research Society, at a forum of energy saving and circular economy on May. 25.

Blind suppression on oil prices will only lead to the surging unreasonable need of energy sources, said Zhou, adding that the current allowance policies only benefit the high-income bracket, especially the affluent class that have their own cars.

If necessary, oil price rise will be regulated step by step "with each step that is not too small", said Zhou.

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