China’s Oil Prices Go Through the Roof as Ukraine Crisis Hits Home

Refined oil prices in China soared to near 10-year highs after international crude prices went through the roof in the wake of the Russia-Ukraine conflict.

On March 7, the real-time wholesale price of gasoline reached 10,306 yuan ($1,630) per ton on average, a 30% surge from Jan. 1, while diesel jumped 15.5% to 8,657 yuan per ton, figures from energy market information provider 315i.com showed. Both of the prices have touched a 10-year high.