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But Mai also noted that the current price adjustment could to some extent increase the oil supply in the national market.|
The small increase is a boost for suppliers to release supply into the domestic market instead of stockpiling, he said.
"It is possible that suppliers have reduced sales with the previous low profit margin," said Mai.
And the rising gasoline price could also curb the country's excessively fast growth in oil consumption.
Zheng Lidong, who is from Tangshan, Hebei Province, drives a Toyota Prado. He said that the price increase would cost him about 300 yuan ($45.64) more per month.
"I think the price increase is acceptable, but still, I will choose to drive less if the price trends further upward," said Zheng.
Many worried that the current oil price adjustment could further drive up the country's CPI, which was 4.9 percent last month.
But Lin Boqiang, director of the China Center for Energy Economic Research at Xiamen University, believes the current price increase would not cause further inflation yet.
He did admit, though, that other industries may follow suit by showing a very moderate price increase.
"The current adjustment is not significant enough to cause inflation, since oil prices account for a very small percentage of CPI," said China Center for Energy Economic Research's Lin.
To avoid a possible price surge in the transportation system, the NDRC has ordered railways, urban public transportation systems and other passenger traffic systems not to raise prices.