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China raises retail gasoline, diesel prices

MarketWatch -- China announced increases in retail gasoline and diesel prices, a move that will see prices at the pump rise by 3.3% and 3.6%, respectively, above current retail ceiling benchmarks, according to calculations by The Wall Street Journal that were based on a late Tuesday announcement by the National Development and Reform Commission. In spite of the price hikes, Chinese consumers will still be shielded from paying full energy prices, although the hikes should help bring retail charges into closer alignment with those quoted on international markets. Gasoline and diesel prices will rise by 300 yuan ($47.54) per metric ton, effective from midnight Wednesday, China's top economic planning body said in a statement. Ahead of the announcement, the average retail ceiling benchmarks for gasoline ...

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Submitted Feb 08, 2012 By: brbaritone

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lyons_coop Veteran Author Kansas Posts:359 Points:92,910 Joined:Jan 2012	Message Posted: Feb 8, 2012 7:18:27 PM Ignore lyons_coop Report Abuse Maybe they will bankrupt themselves trying to subsidize everything at prices well below the market...
Eliano Champion Author Baltimore Posts:1,406 Points:276,475 Joined:Jun 2011	Message Posted: Feb 8, 2012 3:22:14 PM Ignore Eliano Report Abuse it should be based on market value.
K9LO Champion Author North Dakota Posts:1,417 Points:307,940 Joined:Nov 2010	Message Posted: Feb 8, 2012 10:56:48 AM Ignore K9LO Report Abuse If they raise their prices, maybe they'll cut consumption. The communists are burying us as we speak. They will continue to do it as long as we let them BUY AMERICAN!
Cothrom All-Star Author South Carolina Posts:621 Points:385,990 Joined:Sep 2005	Message Posted: Feb 8, 2012 9:35:01 AM Ignore Cothrom Report Abuse Think the whole worlds fuel prices will be doing the shake
albert2008 Champion Author Winnipeg Posts:5,554 Points:1,126,010 Joined:Sep 2008	Message Posted: Feb 8, 2012 9:06:51 AM Ignore albert2008 Report Abuse good for them
Goatroper Champion Author Dallas Posts:5,189 Points:1,013,450 Joined:Apr 2004	Message Posted: Feb 8, 2012 9:04:48 AM Ignore Goatroper Report Abuse if they raise their prices, maybe they'll cut consumption
Joeski1 Champion Author New Jersey Posts:7,479 Points:1,381,735 Joined:Dec 2004	Message Posted: Feb 8, 2012 7:18:28 AM Ignore Joeski1 Report Abuse Costs are going up for everyone . Only one way to beat that.
Evilmaddog Champion Author British Columbia Posts:1,465 Points:598,505 Joined:Aug 2010	Message Posted: Feb 8, 2012 7:11:30 AM Ignore Evilmaddog Report Abuse at least they shield consumers from high fuel prices, not here, where u pay 45% in taxes on gas
Tigercat88 Champion Author North Carolina Posts:1,370 Points:257,565 Joined:Jul 2011	Message Posted: Feb 8, 2012 6:42:16 AM Ignore Tigercat88 Report Abuse Let China pay through the Nose.
amoshins All-Star Author Trenton Posts:962 Points:312,855 Joined:Apr 2011	Message Posted: Feb 8, 2012 6:41:35 AM Ignore amoshins Report Abuse Why are China consumers shielded from paying their share of energy costs, as the article suggested?
gs7101 Champion Author San Antonio Posts:3,743 Points:276,855 Joined:Jun 2009	Message Posted: Feb 8, 2012 6:38:56 AM Ignore gs7101 Report Abuse Gasoline prices are up everywhere.
WalRus49 Champion Author Boston Posts:2,250 Points:509,740 Joined:Nov 2010	Message Posted: Feb 8, 2012 6:36:19 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage............
fjkcpa Champion Author Houston Posts:1,589 Points:253,420 Joined:Nov 2005	Message Posted: Feb 8, 2012 6:35:51 AM Ignore fjkcpa Report Abuse Ahh so...
acvw74 All-Star Author Illinois Posts:545 Points:341,125 Joined:Apr 2011	Message Posted: Feb 8, 2012 6:27:34 AM Ignore acvw74 Report Abuse Not really shocked...China froze their fuel prices in 2008 to avoid the economic rollercoaster we have been on. Now they are adjusting slowly to allow the economy to catch up.
TruthMatters All-Star Author New Jersey Posts:938 Points:202,595 Joined:Oct 2011	Message Posted: Feb 8, 2012 6:26:51 AM Ignore TruthMatters Report Abuse There's a new player in town now
MN1 Champion Author Twin Cities Posts:1,533 Points:298,985 Joined:Jun 2011	Message Posted: Feb 8, 2012 6:24:56 AM Ignore MN1 Report Abuse China manipulates their currency and consumer pricing... at least for oil.
bullet226 Champion Author Toronto Posts:2,696 Points:530,915 Joined:Nov 2010	Message Posted: Feb 8, 2012 6:12:30 AM Ignore bullet226 Report Abuse They now have a safe source of oil - CANADA!
brbaritone Champion Author Virginia Posts:1,246 Points:1,367,875 Joined:Jan 2007	Message Posted: Feb 8, 2012 5:59:38 AM Ignore brbaritone Report Abuse ... and diesel were 9,080 yuan per metric ton and 8,230 per metric ton, respectively.