BEIJING-Chinese officials are studying reforms of China's oil products pricing mechanism, the issue of lowering pump prices, and reforming fuel taxes and fees, the country's top economic planning body said on Thursday.

The retail fuel price cut would be considered together with the possible scrapping of road tolls and some other fees levied on land, air and sea transportation, the National Development and Reform Commission (NDRC) said on its Web site.
The NDRC said it was working with the Finance Ministry, local government officials and transportation authorities, among others, on the reforms.
Some market participants had expected an imminent announcement of a reform, but a source familiar with the situation told Reuters that officials were still debating the issues.
Expectation that the oil reforms will eventually benefit Chinese oil refiners led to a surge in their stocks on Wednesday, with shares of top refiner Sinopec up as much as 9 percent before ending up 2.8 percent as investor locked in gains.
Sinopec shares fell 3.6 percent on Thursday.
Some analysts have said the government may lower gasoline prices at the pumps by as much as 1,500 yuan a tonne and diesel by as much as 1,200 yuan a tonne, and said Beijing may introduce a long-awaited fuel tax, meant to replace road tolls, at the same time to avoid upsetting motorists.
But a source who said officials are still discussing details said authorities may decide to increase an existing refined oil consumption tax, levied on seven oil products and borne by refiners and importers, rather than impose a new fuel tax.

(Reuters, Nov 20, 2008)