Higher fuel prices

The 8-percent price hike on major oil products yesterday highlighted the need to address the supply shortage that is creeping across China.

Price hikes for necessity goods should not be treated as a stopgap way to boost production. Policymakers must do more to promote energy conservation.

When announcing that the prices of gasoline, diesel oil and jet fuel would be raised by 500 yuan ($68) per ton, the National Development and Reform Commission (NDRC), the country's top economic planner, stressed that the revision was intended to ensure domestic fuel supplies and encourage energy saving.