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Energy Bombshell: China Raises Oil and Diesel Prices
Posted on June 20, 2008
On Thursday, China dropped a bombshell with the news that it was raising prices on refined products, gasoline and diesel. Detailed reports are confusing, not the least due to the currency and weight units used. The best I could find is gasoline from 5980 to 6980 yuan/ton, diesel from 5520 to 6520 yuan/ton, and jet fuel from 5950 to 7420 yuan/ton. However, those appear to be the wholesale price. The new retail prices are reported to be 7540 and 7040 Yuan/ton for gasoline and diesel, respectively, and represent an increase of 0.8 and 0.92 Yuan/liter. According to this website, 1 metric ton of g...
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