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ABSTRACT
China’s gasoline prices are still regulated by government although China’s refined oil pricing mechanism has been reformed for many times. In this paper, proximity and similarity between China’s gasoline prices and Brent crude oil prices are calculated in the different stages with China’s refined oil pricing mechanism reforming, by using daily data and gray relational analysis method. The results show that there have undergone great changes of the similarity and proximity between China’s gasoline prices and international crude oil prices.
Acknowledgment
Thanks for the constructive suggestions provided by anonymous referees.
Funding
This work was supported by Leverhulme Trust, National Natural Science Foundation of China (71173106, 71271226, 71273131), China Postdoctoral Foundation (2012M511277), China Humanities and Social Science Fund of Ministry of Education (12YJC639276), the Fundamental Research Funds for the Central Universities (56XAA13079, 56XZA12071), Major projects for Jiangsu University Philosophy and Social Science Key Research Base (2012JDXM003), Jiangsu Natural Science Fund (BK20130785), Doctoral Fund of China Ministry of Education (20133218120036) .