CHINA LIMITS FUEL PRICE HIKE TO CUSHION IMPACT OF RISING OIL PRICES
- NEWS Desk Global
- 6 hours ago
- 1 min read
China took steps to cushion the impact of rising fuel prices on Monday, increasing the regulated ceiling prices for retail gasoline and diesel but limiting the hike to about half what would normally be applied under the government's pricing mechanism.
The adjustments brought on by rising oil prices linked to the U.S.-Israeli war on Iran were still the largest on record, however, lifting price limits close to levels seen in 2022 after Russia invaded Ukraine.
