Inconvenient Truths — Jennifer Zeng Reports@jenniferzeng97
🚨 More rush buying!
From the evening of March 9 to the early morning of March 10, on the eve of China's refined oil price increase, gas stations in many places—including Beijing, Shanghai, Shenzhen, Hangzhou, Wuhan, and Chengdu—saw long lines of vehicles as car owners rushed to fill up before the hike.
This video shows a very long queue of cars refueling near the Jinniu Interchange in Chengdu.
According to the notice from China's National Development and Reform Commission, starting at 24:00 on March 9, retail prices for gasoline and diesel were significantly raised.
Gasoline prices increased by 695 yuan ($101) per ton and diesel by 670 yuan ($97) per ton, equivalent to roughly 0.55–0.58 yuan per liter ($0.29–$0.31 per gallon)—one of the largest adjustments in nearly four years.
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