The international oil price jumped to the one-hundred-dollar mark per barrel on the first trading day this year. Han Wenke, director of the Energy Research Institute of the National Development and Reform Commission, said recently that there is little chance of a drop in oil prices in the short term, and that high oil prices are likely to be maintained for a long time. It is necessary to study the issue of introducing fuel tax in the context of high oil prices.
On the 2nd, international oil prices soared. The low-sulfur light crude oil futures delivered on the New York Mercantile Exchange hit a threshold of US$100 per barrel and fell slightly to US$99.62 per barrel. In this regard, Han Wenke believes that high oil prices mainly affect the oil-rich industries, squeezing the profitability of these industries, it may also lead to loss or even closure of some industries or companies. At present, China's refined oil price formation mechanism needs further reforms and improvements. It needs to further integrate with the international market, speed up the transmission of prices, further give play to the market's adjustment of oil supply and demand, and at the same time form a price mechanism conducive to energy conservation and environmental protection.
Under the background of the hundred-dollar oil price, the domestic fuel tax reform has undoubtedly become one of the focuses of people's discussion. Han Wenke said that the introduction of the fuel tax is a complicated issue. From the perspective of encouraging fuel conservation and fair burdens, and from the perspective of enhancing the use of fiscal and taxation measures to regulate oil consumption, China should introduce a fuel tax as soon as possible. The introduction of the fuel tax is not only related to the reform of fees and tax reforms, but also to the expression of the state’s basic national policy. At the same time, it also involves the issue of further embodying social equity in the context of improving people’s living standards. Therefore, the timing of the introduction needs to be studied. However, the current high oil price is likely to remain for a long time. Therefore, we cannot wait forever and we must study the issue of fuel tax in the context of high oil prices as soon as possible.
On the 2nd, international oil prices soared. The low-sulfur light crude oil futures delivered on the New York Mercantile Exchange hit a threshold of US$100 per barrel and fell slightly to US$99.62 per barrel. In this regard, Han Wenke believes that high oil prices mainly affect the oil-rich industries, squeezing the profitability of these industries, it may also lead to loss or even closure of some industries or companies. At present, China's refined oil price formation mechanism needs further reforms and improvements. It needs to further integrate with the international market, speed up the transmission of prices, further give play to the market's adjustment of oil supply and demand, and at the same time form a price mechanism conducive to energy conservation and environmental protection.
Under the background of the hundred-dollar oil price, the domestic fuel tax reform has undoubtedly become one of the focuses of people's discussion. Han Wenke said that the introduction of the fuel tax is a complicated issue. From the perspective of encouraging fuel conservation and fair burdens, and from the perspective of enhancing the use of fiscal and taxation measures to regulate oil consumption, China should introduce a fuel tax as soon as possible. The introduction of the fuel tax is not only related to the reform of fees and tax reforms, but also to the expression of the state’s basic national policy. At the same time, it also involves the issue of further embodying social equity in the context of improving people’s living standards. Therefore, the timing of the introduction needs to be studied. However, the current high oil price is likely to remain for a long time. Therefore, we cannot wait forever and we must study the issue of fuel tax in the context of high oil prices as soon as possible.