China Has Halted Diesel Shipments

[pioneer]

Agence France-Presse

China has halted diesel shipments and restricted exports of refined oil products, in a bid to ensure domestic supply and stabilise fuel costs amid surging inflation in the country.

The National Development and Reform Commission said in a statement that exports of refined oil products would be "strictly controlled" and those of diesel temporarily stopped, except to Hong Kong and Macau.

The country's top economic planning agency also urged oil producers to "maintain full capacity operation" to increase output, in the statement dated Thursday.

"Economic authorities at all levels and oil producers must fully acknowledge the significance of ensuring refined oil supply in terms of maintaining social stability and facilitating economic growth," it said.

The commission also vowed to crack down on hoarding and unauthorised price hikes, according to the statement.

China has raised prices for gasoline and diesel fuel four times since October, citing rising global crude oil prices and fanning concerns about politically-sensitive inflation in the world's second biggest economy.

China exported 8.63 million tonnes of refined oil in the first four months of the year. It consumed 78.33 million tonnes during the period.

[chicogon]

China is learning big time and quickly the "trade monopoly." Beware the giant is awake!!!

[chicogon]

No wonder it cost $2,200 plus now to go home to the Philippines... and that's even the cheapest I could get, huh! Chinese Airline naman gani ni...

[Lorenzo]

They have to. To maintain and sustain their enormous economic machine. China consumes more kilowatts of electricity than the United States. The Chinese consume over 400 million kilowatts of electricity , whilst the United States consumes around 380 million kilowatts. That number, China's consumption rate, is expected to increase as the 700 million Chinese that live in the rural places are buying more electric hardware and goods , with help of government subsidies that are implemented to offset the cost of living in the cities and that in the country.