Fuel hike mirrors global crude
By Wang Xu and Si Tingting | China Daily | Updated: 2009-06-02 08:09
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An attendant at a gas station in Beijing. CFP |
China raised retail fuel prices yesterday at a rate far slower than the surging international crude prices and far lower than analysts' speculations in an attempt to minimize the impact of a fuel price rise on farmers during the harvesting season. The move also shows its lack of faith in the sustained growth of international crude prices, analysts said.
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