Iran conflict causes significant rise in fuel prices in China, with petrol increasing by 1,160 yuan per tonne
The ongoing conflict in Iran has led to major disruptions in global oil markets, prompting a sharp increase in fuel prices in China. According to reports from the National Development and Reform Commission (NDRC), petrol prices surged by 1,160 yuan (approximately US$169) per tonne, marking the highest rise since 2000. This surge in petrol prices has been complemented by a complementary increase in diesel prices, which rose by 1,115 yuan. These price changes reflect an overall increase of roughly 11 percent and signify the fifth such adjustment in the current year. The recent price hikes in China are a direct... [Continue Reading]
