Peng Sen, deputy director of the National Development and Reform Commission, said that the price reform of oil, coal, electricity and other resource products will be adjusted this year, especially the most concerned ladder prices will be introduced in the first half. Regarding the reform of refined oil prices, Peng Sen said that the new pricing mechanism for refined oil will also adopt a government-guided price and will shorten the price adjustment cycle. As to when the new product oil pricing mechanism will be launched, Peng Sen believes that it is more appropriate to issue new programs in the world where energy prices remain stable or have declined.
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