China will raise the maximum retail price of gasoline by $11.03 (75 yuan) per metric ton and diesel by $10.29 (70 yuan) per ton, effective May 22, according to a notice from the state planner. The adjustment is the latest in a series of increases since the Iran war began disrupting global oil markets. The price caps apply to domestic retail fuel prices, which are managed under China’s regulated pricing system, as the National Development and Reform Commission seeks to balance global crude price movements with domestic stability, according to a report by OilPrice.com. [1] [2] Iran War and Oil…
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