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Gas prices in China may leap after the Olympics

The Chinese government has managed to keep the country's economic growth engine humming along - despite slowdowns in most other countries - by keeping fuel prices low. The government has been subsidizing gasoline to keep the price at $2.60/gallon, an increase of only nine percent since the start of 2007. By the end of the summer that situation may change as the central government is expected to lift those subsidies. The price of refined petroleum in China is about half that of the rest of the world. In 2007 the central Government spent about ... Read more →

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