Oil Prices in N Korea surge amid pressure from China
Gasoline prices more than double level at start of year
China National Petroleum Corp ceased sales of diesel and gasoline to North Korea over the past several months, according to a report last month, and it is taking its toll at the gas pump, Rueters reports this week.
As of July 5, gasoline prices had surged to US$2.18 per kg (oil products are sold by weight in N Korea), up 50% from US$1.46 per kg on June 21, according to Reuters analysis of data collected by the Daily NK website.
By July 12, prices had eased to US$2.05 per kg, still more than twice the level seen at the start of the year, when prices were averaging under US$1 per kg.