BEIJING, May 30 -- China's apparent demand for oil
climbed 10.8 percent in April from a year earlier, the strongest rise since
2004, after a rise in State-set fuel prices encouraged refiners to boost
supplies to the domestic market.
The world's second-largest oil
consumer used 6.69 million barrels per day (bpd) last month, calculations based
on official data showed, despite a fall in crude imports as refiners shunned
soaring global markets.
Car sales soared by almost half during the first four
months of the year, helping drive a 20 percent rise in demand for gasoline to
around 1.2 million bpd in April.
Fuel price caps have insulated China's drivers from
the full brunt of rising global crude markets, so the modest 3 to 5 percent
price rise in March offered middle-class car owners little incentive to trim
use.
More price sensitive users, from farmers and
fishermen to taxi drivers, have been insulated by government subsidies, and a
steeper rise in late May is not expected to dent use. China raised retail prices
of gasoline and diesel last Wednesday by 9.6 and 11.1 percent, one of the
largest increases in recent years.
The spring sowing season and a booming economy also
pushed up diesel consumption by more than 10 percent, although shortages
spreading across the southeast for most of April limited consumption in some
areas.
China's refiners have been stepping up kerosene
imports in order to shift production capacity to diesel. But a wide gap with
global prices is still causing shortages and China on Sunday urged its oil
majors to keep rural users supplied.
(Source: Shenzhen Daily/ Agencies)