The oil price hike followed an increase in the international price of crude oil. But the timing was postponed and the rise was limited. The National Development and Reform Commission says the government took into account factors such as the current price situation, Spring Festival, and supply and demand conditions in the oil market. Nannan has more.

The International average crude oil price has already jumped by more than 10 percent since January 22nd. It led markets to anticipate a rise of 500 yuan per tonne on gasoline and diesel. But with only a 4.5 percent hike, the price only rose by 350 yuan.

The government says it will continue to provide subsidies to low-income families, farmers, taxi drivers and other sectors, that could be hurt by the price adjustment.

China's consumer price index, a main gauge of inflation, rose 4.9 percent in January..... lower than market expectations... but still higher than the 4.6 percent from December.

The government has ordered public transport systems not pass on the higher costs by raising ticket prices. It says it will also closely monitor price trends in the freight transportation sector.

The rise in fuel prices is also aimed at restraining a rapid increase in the country's oil consumption, and boosting energy conservation.

In 2010, China's dependence on imported oil jumped to 55 percent, up from 33 percent in 2009. This was mainly due to increasing auto sales.

Analysts predict the price hike could ease the lingering fuel shortage, since distributors tend to hoard fuel ahead of price increases.

vivi笔记：

crude oil：原油
National Development and Reform Commission：国家发改委
low-income families：低收入家庭
consumer price index：消费价格指数
main gauge：主要衡量标准
public transport systems：公共交通系统
freight transportation：货运
auto sales：汽车销售额

口译备考之看英语视频练复述系列>>