Approximately 2000 truck drivers were involved in clashes with police in Shanghai today, after multiple days of protests, according to Reuters (via Zero Hedge).The protests are over rising fuel costs in the country. Gasoline prices were increased by ¥500 per metric ton (approximately $0.20 per gallon). Prices are up 21% year-over-year for fuel.
Workers are complaining that wages have not kept pace with the increase in prices. Chinese wages are rising, but clearly not fast enough to keep up with the prices pressures of surging fuel inflation in the country.
Police reportedly beat up protesters with batons and arrested at least 6 people.