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Central bank sees ample room for oil product price rises

(Agencies)
Updated: 2008-05-15 17:34

China's central bank said that there was ample room for rises in the state-set prices of oil products.

In its monetary report for the first quarter, published on its website, the central bank said that domestic oil product prices were much lower than their international counterparts, putting downstream oil refiners under heavy cost pressures.

It said that China needed to continue reforming the oil pricing system.