China Cuts Gas Subsidies - Oil Price Down

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  • DateDoc
    Outside looking in.
    • Feb 2005
    • 14243
    #1

    China Cuts Gas Subsidies - Oil Price Down

    China's going to cut the fuel subsidies that have insulated the Middle Kingdom from rising gas prices and will increase retail gasoline and diesel prices by 1,000 yuan ($145.31, ?93.89) a ton starting Friday. Dow Jones Newswires reported the news citing a Reuters story.

    Oil is down about 2% today. Still a ways to go but it is going down (for now).

    http://www.marketwatch.com/news/stor...7D&siteid=bnbh
    Tags: None
    • cleopatra0628
      Confirmed User
      • May 2008
      • 278
      #2
      good to hear that

        Comment

        • DateDoc
          Outside looking in.
          • Feb 2005
          • 14243
          #3
          That equates to about a $0.50 (€0.33) price hike per gallon. Pretty stiff.

            Comment

            • alby_persignup
              Confirmed User
              • May 2007
              • 3119
              #4
              that's good news
              OnProbation Links Directory | OnProbation Design Services | OnProbation Cash

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                • Shoplifter
                  Richest man in Babylon
                  • Jan 2002
                  • 5881
                  #5
                  This may not necessarily be a good thing for the economy...The price increase will just be passed on elsewhere.
                  I Like Blondes

                    Comment

                    • ajrocks
                      Confirmed User
                      • Nov 2004
                      • 4526
                      #6
                      Thats good news. But until the speculators are controled things aren't going to correct.
                      SEO Strategy - Digital Strategy - Cannabis Lead Generation

                      Skype aj.durden1

                        Comment

                        • tranza
                          ICQ: 197-556-237
                          • Jun 2003
                          • 57559
                          #7
                          Good news!!!
                          I'm just a newbie.

                            Comment

                            • LilBro
                              #8
                              Drill Here, Drill NOW...before its to late....

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