DAILY NEWS Nov 1, 2007 8:01 AM - 0 comments

Diesel shortage disrupts trucking industry in China

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BEIJING, China -- Economic powerhouse China is coping with a fuel crisis that is disrupting the trucking industry and threatening to send diesel prices soaring.

The country raised diesel prices about 10% yesterday, the Associated Press reports, due to a lack of refining capacity.

The trucking industry in China has reported that diesel rationing has delayed deliveries in Shanghai and along China’s coast where manufactured goods are exported for delivery to North America. Diesel currently costs about US$2.69 per gallon in China.

China is the world’s second largest consumer of oil, after the US.

- With files from the Associated Press
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