China's oil products up 0.4 percent in July

China's price of oil products was steady in July with the average price of major oil products increasing 0.4 percent over the previous month, but drop 5.1 percent from the same period of last year, according to China Logistics Information Center.

The high temperature of summer has spurred demand for oil products.

Statistics show that in July price of diesel oil went up 0.17 percent month on month, but down 5.2 percent year on year; price of petrol up 0.7 percent month on month, but down 5.5 percent year on year; and price of fuel price up 0.3 percent month on month, but down 3.5 percent year on year.

China imported 14.83 million tons of crude oil in July, rising nearly 40 percent from the same period of 2006 and hitting a new record high, according to latest statistics from Chinese Customs.

In the first seven months, China imported 96.37 million tons of crude oil, which is also a historical high.

China's crude import dependence is sure to break 50 percent this year, experts said.

At the same time, China's product oil import decreased 1 percent to 21.74 million tons in January-July, while product oil export jumped 26.2 percent to 8.98 million tons.