China dials back on fuel price hikes to 'reduce burden' on drivers

TL;DR

China Vanke’s Outlook Further Strained by GLP’s Bond Distress China is mapping the ocean floor as it prepares for submarine warfare with the U.S. China positions itself as a stable economic force amid global uncertainty at Beijing forum China has dialled back on planned fuel price hikes in a bid to "reduce the burden" on drivers, as energy costs surge amid the Iran war. The local price of petrol has jumped by about 20% since the start of the conflict, which has seen Iran effectively close one of the world's busiest oil shipping channels, the Strait of Hormuz.