BEIJING, Nov. 20 (Xinhua) -- China has been studying
a fuel tax reform to replace the current road tolls imposed upon vehicles, the
National Development and Reform Commission (NDRC), the country's top economic
planner, announced here on Thursday.
The announcement came after media reports said on
Wednesday that the government was likely to impose the fuel tax as early as next
month.
The NDRC together with the Ministry of Finance and
the Ministry of Transport has jointly held discussions on related issues
including abolishing road and waterway maintenance fees, lowering refined oil
prices and improving the fuel pricing system.
The planner didn't specify when to launch the
long-awaited reform.
The introduction of a fuel tax in China was first
proposed in 1994 but has been delayed amid concerns that it would impose too
great a burden on those who consumed more oil.
The government has instead collected road maintenance
fees from automobile users regardless of how much gasoline or diesel oil they
use.
Analysts said the on-going oil price drop presented a
good opportunity for China to resume its fuel tax reform.
World crude oil prices fell to the current 53.62 U.S.
dollars, down more than 60 percent from the peak price of 147 U.S. dollars in
mid-July.
NEW YORK, Nov. 19 (Xinhua) -- Crude oil settled below 54
U.S. dollars a barrel on Wednesday as a big-than-expected increase in U.S. crude
inventory reinforced concerns over falling demand.
Light, sweet crude for December delivery fell 77
cents to settle at 53.62 dollars a barrel on the New York Mercantile
Exchange. Full story
