China Petroleum & Chemical Corp, or Sinopec, believes more frequent revisions of China’s fuel prices would cut out the speculation that leads to gasoline and diesel hoarding, Bloomberg reported. An unnamed Sinopec official said the government is looking over a proposal submitted by refiners which advocates a change to the rules that allow the government to alter fuel prices when crude oil prices fluctuate by more than 4% over a 22-day period, including a suggestion to shorten the period. Temporary fuel shortages occurred in 2009 when demand rose while some distributors kept oil products off the markets on expectations of a government-sanctioned price hike. Beijing increased gas and diesel prices by up to 8% in November 2009, the eight price adjustment that year.