Transport Companies Prepare to Hike Fees as Surging Fuel Prices Bite

Multiple Chinese sectors ranging from transportation to fertilizer production are feeling the pinch of rising costs brought by a surge in gasoline prices, as costs of the fuel breached the 8-yuan threshold for the first time in 14 years after the latest oil price adjustment this month.

In Beijing this month, authorities raised the upper price limit for the most popular 92 RON gasoline to 8.05 yuan ($1.27) per liter, while the price of 95 RON gasoline was hiked to 8.56 yuan per liter, according to a statement (link in Chinese) from the city government.