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Oil crisis? What oil crisis?

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The China Daily reports:

China Wednesday raised the price of refined oil products for the first time in three months to reflect the oil price spike on the international market.

The image is from the China Daily's website and shows gasoline prices at a Beijing filling station.

The stuff is still amazingly cheap in the capital. Converted into American measures, #97 now costs $ 1.67 per gallon.

The China Daily report is here.

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