Financial Times FT.com

China raises oil prices as crude hits record

By Jamil Anderlini in Beijing and Javier Blas in London

Published: November 1 2007 02:00 | Last updated: November 1 2007 02:00

China raised the price of petrol and diesel by almost 10 per cent yesterday as crude oil prices hit a fresh record above $94 a barrel.

The move, the first increase since May 2006, came despite a promise by Beijing not to put up state-controlled prices before the end of the year in an effort to keep inflation at bay.

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