North Korea’s Fuel Prices Soar After China Suspends Exports

Authored by Tsvetana Paraskova via OilPrice.com,
Diesel and gasoline prices in North Korea have jumped since China National Petroleum Corp (CNPC) halted sales of fuel to Pyongyang, Reuters reported on Monday, citing data on prices collected by North Korean defectors.
At the end of last month, reports emerged that CNPC, the main supplier of diesel and gasoline to North Korea, has suspended fuel sales to North Korea because it is worried that it may not receive payments.
North Korea imports all the oil and oil products it consumes – mostly from China – and a prolonged suspension by CNPC would choke out supplies at a time when the international community is increasing pressure on North Korea to stop its nuclear and missile ambitions, and is intensifying checks over Chinese business relations with Pyongyang.

This post was published at Zero Hedge on Jul 19, 2017.