China’s efforts to ease an energy crunch by stabilising volatile coal prices have been complicated by a surge in wholesale petrol and diesel costs, forcing filling stations to ration fuel.
The energy crisis has intensified pressures on Beijing ahead of this weekend’s COP26 climate summit in Glasgow.
China’s economic planning agency said on Thursday that it met energy companies about “setting standards” to combat “excessive profits”, raising expectations that the government could set new price caps on coal.
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