Study On The Effectiveness Of Chinese Refined Oil Price Mechanism

The petroleum is not only a livelihood-related commodities, but it is also relatedto the macro-economic and national security, strategic resources, at the same time it isthe financial attributes product. The price of petroleum is about the aspects of stateentity and virtual economy. The refined oil pricing mechanism as the price determinesis not only directly related to fluctuations in international crude oil prices to theimpact of conduction on the domestic market, but also the relationship between thestability of the domestic market environment and people’s livelihood. Its importanceis self-evident.“The petroleum price management approach” in2009which is the initial priceformation mechanism of the domestic refined oil prices linked to the crude oil prices.In the March2013,The National Development and Reform Commissionshortened the oil price cycle from22days to10days and canceled the limit ofaverage price which is affiliated international oil market4%rises. The price formationmechanism are further improved. At that time, society attention of the new refined oilpricing mechanism is unprecedented increasing, but the view on price formationmechanism reform is mixed. How to measure oil price formation mechanism is validrole to play? How to evaluate the position and role of the new refined oil pricingmechanism in the oil prices history of many years? Which improvement areas doesthe new price formation mechanism exist?On the base of various stages of the refined oil pricing mechanism reformresearch, combed the refined oil pricing mechanism by new standard. At the sametime, study the various stages of oil price reform by empirical data analysis andempirical methods to prove the effectiveness and make recommendations to furtherimprovement.