Pursuits
China Raises Fuel Prices After Crude Oil Climbs Above $100
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China, Asia’s biggest oil consumer, increased retail gasoline and diesel prices for the first time this year, aiding state refiners under pressure from $100 crude.
Shares in China Petroleum & Chemical Corp., the nation’s biggest refiner, climbed 1.4 percent in Shanghai. The company’s Hong Kong-listed shares dropped 2.3 percent as analysts said the increase in government-controlled prices won’t be enough to offset refining losses.