China will allow a retail gasoline price rise of 6-7% on Tuesday, higher than expectations for...

|By:, SA News Editor

China will allow a retail gasoline price rise of 6-7% on Tuesday, higher than expectations for about half that amount, and the largest increase in nearly 3 years. The hike should take some pressure off refiners who are getting squeezed between high oil prices and artificially low refined product prices. SNP +1.3%.