The sudden drop in gasoline and diesel prices… “Massive influx from China”

A pressurization facility in the Dandong base of the North Korean oil pipeline. /Photo = Daily NK data photo

The price of North Korea’s refined oil, which had recently soared due to a shortage of supplies, fell more than 50% in three days. The price of gasoline and diesel plummeted in an instant as North Korea received refined oil supplies from China.

According to an insider inside Daily NK, on ​​the 15th, the price of gasoline and diesel in Pyongyang was 7,000 won and 4,000 won per kg, respectively.

Compared to the price of refined oil in Pyongyang surveyed on the 12th, gasoline fell by 36% (11,000 won → 7,000 won) and diesel by 53% (8500 won → 4,000 won).

North Korea’s gasoline and diesel prices fell in February and early March, when imports from China were made, but have continued to rise until recently.

At the beginning of last month, the price of gasoline and diesel in Pyongyang rose by 13,000 won and 10,000 won, respectively.

According to multiple sources, refined oil was imported from China right after Chairman Kim Jong-un and Chinese President Xi Jinping exchanged personal letters on the 11th to mark the 60th anniversary of the North Korea-China friendship treaty.

In his congratulatory congratulatory message to President Xi, Chairman Kim said, “I have a firm will to develop bilateral relations in the long term on the legal basis that solidifies the friendship between the two countries.” It is the unwavering position of the party and the government.”

Xi also responded by saying, “China and North Korea have a strong relationship,” adding, “I hope to enhance the relationship between the two countries and contribute to the interests of their own people.”

For this reason, residents who are aware of the import of refined oil from China are saying that “condensed oil is a reply to[Chairman Kim’s]personal letter.”

A Chinese-made gas tank was caught at a gas station in Sinuiju, North Korea. /Photo = Daily NK

It is said that a significant amount of refined oil imports were brought in by sea through Nampo Port, and some were also imported through North Korea-China oil pipelines.

According to the source, dozens of trucks were also caught going to and from Baekma Yeonyuchang (North Pyongan Province), where the final destination of the Ui oil pipeline in North Korea is located.

It seems highly likely that the national plan supplied to institutions such as the central party, the military, and corporations was supplied by sea, and the refined oil distributed to the private sector was supplied through oil pipelines.

In the midst of this, some argued that the amount of refined oil supplied this time seems to be much higher than the average import volume before.

In North Korea, you can issue a ticket called a ‘condensed milk ticket’ and pay for this ticket instead of cash to buy oil at a condensed milk supply station (gas station). The source explained that the amount does not appear to be exhausted inside.

On the other hand, it is known that North Korea has been provided with refined oil from China and in return has agreed to provide minerals to China at a low price.

“The Chinese side has been demanding sustainable minerals,” the source said. “It is expected that exports of magnesia clinker and iron ore to China will increase in the future.”

Source: DailyNK by

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