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VOA: Oil Prices Surge in Pyongyang

News2017-05-11
VOA: Oil Prices Surge in Pyongyang

Oil prices are said to be surging in Pyongyang.
  
The Voice of America reported on the higher oil prices on Thursday, quoting a Western diplomat stationed in the North Korean capital.
  
The diplomat said in an email, on the condition of anonymity, that oil sells for one dollar and 30 cents per kilogram at North Korean gas stations, an 85 percent jump from 70 cents.
  
The diplomat added that some gas stations have placed a limit on the amount of oil being purchased—ten or 20 liters at a time.
  
Analysts say that oil prices are rising in the North because authorities have stockpiled oil reserves in preparation for a possible cutback in crude oil supply from China, as part of sanctions against North Korea requested by the U.S.

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