Tag: Diesel

In Beijing on Tuesday, long lines began to form around gas stations across the city. It was one of the first tangible signs of the government’s decision to raise fuel prices, which went into effect Tuesday at midnight.

Although the drivers waiting in line may have been worried about their pocket books, the increases are not all that large: gasoline now costs a maximum of 8,530 rmb per tonne (which is less than one dollar per litre), up from 8,220 rmb per tonnne. Diesel prices are now capped at 7,780 rmb per tonne, from 7,480.

Kiran Stacey

A fascinating (and ever so slightly gruesome) story from Leslie Hook, reporting from Beijing in today’s FT.

The Chinese government’s commitment reduce energy consumption per unit of GDP by 20 per cent from 2005 levels has led to power rationing, which in turn has fuelled a boom in diesel-powered electricity generators.

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