Zhang Liuhao/Shanghai Daily news

Shares in Shanghai fell yesterday led by stocks in transport related sectors on a media report saying the country is likely to again raise prices of oil products in response to surging international crude prices.
The Shanghai Composite Index, which tracks both yuan-denominated A shares and hard-currency B shares, slipped 0.76 percent to 1,093.7. The A-share Index also withdrew 0.76 percent to 1,148.59, and the B-share Index ended 0.72 percent lower to close at 65.73.
"The global crude futures rebounded to a high level recently, boosting concerns of a hike in oil prices," said Zhang Qi, an analyst with Haitong Securities Co Ltd.
Crude oil for July delivery hit a record high of nearly US$60 per barrel during trading early this week on the New York Mercantile Exchange.
The retail prices of gasoline and diesel are very likely to rise next month, as the high crude prices have caused difficulties to many firms, said Shanghai Securities News, citing an unidentified market insider.
"The rise in oil prices will hit severely the big oil consumers such as airlines and transport companies," Zhang said.
Dazhong Transportation (Group) Co Ltd, one of the city's largest taxi and bus firms, lost 1.51 percent to 5.89 yuan (71 US cents). China Southern Airlines Co Ltd, the country's biggest by fleet size, dipped 0.65 percent to 3.08 yuan.