China suspends fuel price cuts to curb oil demand, pollution

Hong Kong

CHINA suspended fuel price adjustments as the world's biggest energy consumer tries to curb demand growth and cut pollution to help improve air quality. Shares of the country's biggest energy producers surged.

Keeping domestic fuel rates stable, while oil price continue to fall, can help curb petroleum consumption from "increasing too fast", National Development and Reform Commission, the country's top economic planner, said in a statement dated Dec 15. Automobile emissions are part of the reason for worsening air pollution, the NDRC said.