China in Closer Watch of Fuel Supply – AP

From AP via

China has ordered increased monitoring to ensure steady fuel supplies, especially of diesel, that keeps the nation’s exports moving to global markets. The Commerce Ministry ‘s late order was made late Saturday amid a squeeze on supplies from Chinese refiners, who must pay more for imports but are restricted from raising pump prices by government policy.

An almost 10 percent rise in the price of diesel and gasoline on Nov. 1 helped ease the pinch, although fuel is so scarce in the southern manufacturing base that filling stations continue to ration supplies, requiring truckers to sometimes wait for hours to tank up. The Commerce Ministry notice, posted on its Web site, included no concrete supply targets – but it further registers the ministry’s concern, and puts managers on notice to anticipate and steer clear of shocks. [Full Text]

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