North Korea fuel prices surge after China cuts oil sales

17 Jul 2017   China, North Korea

Gasoline and diesel prices surged in North Korea in the weeks after a Chinese state oil company suspended fuel sales to the reclusive state, according to data reviewed by Reuters and an interview with a North Korean defector. China National Petroleum Corp (CNPC), a state-controlled company, halted diesel and gasoline sales to North Korea “over the last month or two”, amid international pressure on Pyongyang to curb its nuclear and missile programs, Reuters exclusively reported on June 28. Scrutiny of China’s commercial ties with its isolated neighbor intensified further following North Korea’s first test of an intercontinental ballistic missile two weeks ago. The price of gasoline sold by private dealers in Pyongyang and the northern border cities of Sinuiju and Hyesan jumped to $2.18 per kg ($2.92 per liter) as of July 5, up 50 percent from $1.46 per kg on June 21, according to Reuters […]

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