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المشهد العربي
Beijing limits fuel price hikes to manage energy crisis
The Chinese government announced that it has decided to restrict the third increase in domestic fuel prices since the start of hostilities with Iran, in an effort to protect the market from inflation caused by rising global oil prices. Gasoline and diesel prices were raised by 260 yuan and 83 pounds sterling, approximately $38 and $77 per ton, effective Saturday. After the hike, prices surpassed the levels of the last revision before the conflict by 19% for gasoline and 21% for diesel. Although oil prices declined at the end of the week, they remained above one hundred dollars per barrel, while diesel prices in the United States rose amidst concerns over potential supply disruptions.
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