The Research Of Pricing Mechanism Reform On China Refined Oil

Refined oil is a special strategic commodity. The ups and downs of refined oil prices affect a country’s overall macroeconomic performance and even national security. At present, China’s refined oil pricing mechanism has many problems, and the research on the pricing mechanism will help discover the existing problems, a clear pricing mechanism reform, so as to build a healthy, robust oil market advice and inspiration.Through interpreting the history and current situation of China’s refined oil pricing mechanism, we can find the following the important factors which would affect the oil prices to form:The refined oil supply and demand situation in China, The dependence on foreign oil of China, the scale of China’s refined oil reserves, China’s refined oil market structure. The analysis of these factors indicates the meaning and directions which China reform refined oil pricing mechanism.Research shows that is a serious "time lag" in China’s refined oil pricing mechanism, which gives the normal operation of our refineries a great impact. Many domestic enterprises can take advantage of the time lag rarely capture the "buy low, sell high" opportunity, but they often in the "buy high, sell low" link suffered significant losses. Meanwhile, the lack of oil reserves, oil reserve system is not perfect, excessive monopoly, administrative intervention and other factors have also been hindered the formation of rational pricing mechanism. Study further noted that the shortening of the time and the international oil prices, and improve the futures market, will likely become icebreaking program in the refined oil pricing mechanism reform.