Gasoline: Let market set prices

The National Development and Reform Commission, the country's ministry-level economic watchdog, cut the wholesale price of gasoline by 220 yuan ($28) per ton and the price of kerosene by 90 yuan ($12) per ton on Sunday. The move triggered intense discussion in the media, including the following excerpts.

Beijing News: Finally, the long-awaited price cut on refined oil products has come true. Customers are more rewarded with psychological comfort than the actual money they can save from the modest price cut.

As a result of market pressure, the price cut may not be sustained without far-reaching arrangements to establish oil prices in a rational way.