China's Crude Oil Price Rose 24% from June to July '09

National Bureau of Statistics of China (NBS) issued a price change report of a portion of key industrial products on July 14, indicating that prices of many major products have risen. The report says that crude oil price surged 24.3%, or RMB582.6 (US$85.28), over the price issued last time on June 20. The prices of gasoline and diesel rose by 10% from June 20 and prices of steel products continued to their upward trend during the period. The prices of I-shape and special-shape steel climbed by over 8%, and prices of ordinary steel products and wires increased over 4%. But the prices of chemical products continued its decline from June 20. (July 15, 2009)