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HIGHER FUEL COSTS * China - Diesel Stockpiling Boosting Prices, Journal Says
U.S. Exporting More Distillates
New York,NY,USA -The Wall Street Journal/Transport Topics -19 May 2008: -- The worldwide spike in diesel prices is being driven in part by China’s stockpiling of the fuel in advance of this summer Olympics, which it is hosting, and the United States is exporting more diesel to the world market, the Wall Street Journal reported Monday... China is stockpiling in advance of the games, which start in August, and also will need more diesel and distillates to help rebuild after last week’s big earthquake in its Sichuan province, reported... The country is stockpiling the fuel in part in case it needs to rely on backup generators if its power grid falters this summer, the Journal said...
Labels: fuel costs
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