 As China gets set to impose a fuel oil tax, the country's top economic planning authority indicates the reform is likely to start from the beginning of next year.
Liu Shujie, a researcher with the National Development and Reform Commission, predicted that fuel oil prices may fall after China levies the fuel oil tax.
Commenting on higher fuel prices in China recently, the researcher explained the year-round fuel price is actually much lower than the international level, despite the lowering international oil price.
"Although current fuel oil prices are rising, it's still lower than some other countries. And the international year-round fuel price is more than 100 US dollars, and ours is about 30 dollars lower."
Although oil prices in China started rising in June, statistics show that under government control, consumers saved about 290 billion yuan in 2008.
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