Friday, 20 June 2008

Panic petrol buying in China as prices rise 18%

Angela Jameson
London Times
Friday, June 20, 2008

Police were called to Chinese petrol stations overnight and Government officials stood guard at the pumps in Beijing, after angry motorists queued to fill up on learning that petrol and diesel prices were to rise by 18 per cent.

The surprise decision by the Chinese authorities to remove subsidies prompted drivers to head to petrol forecourts but they were frustrated as many garages refused to serve them until after the price increase took effect at midnight.

Prices for gasoline and diesel fuel rose unexpectedly by 1,000 yuan ($145) per tonne each, while aviation fuel was increased by 1,500 yuan a tonne.
FULL ARTICLE @ London Times

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