China Shocks With 18 Percent Fuel Price Rise


	China Shocks With 18 Percent Fuel Price Rise

kmcolo

6-19-2008 1:52 PM

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tags:

oil, energy, china, news

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/32329d2b-6a5d-4c96-bdbb-525b47ff8ef6/895A266C-47E2-44BC-A708-20C360C16F87/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/reuters/business/business-china-oil-prices.html?_r=1&oref=slogin" href="http://www.nytimes.com/reuters/business/business-china-oil-prices.html?_r=1&oref=slogin" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/reuters/business/business-china-oil-prices.html?_r=1&oref=slogin"><P>BEIJING (Reuters) - China raised retail gasoline and diesel 
prices on Thursday by up to 18 percent, a move that threatens 
to stoke domestic angst over decade-high inflation less than 
two months before Beijing hosts Olympics games.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/reuters/business/business-china-oil-prices.html?_r=1&oref=slogin"><P>The rise shows China following its neighbors from India to 
Indonesia in bowing to the pressure of near $140 crude oil.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/reuters/business/business-china-oil-prices.html?_r=1&oref=slogin"><P>The rise, which will be effective from July 1, is its first 
broad increase in years and will bolster power companies 
struggling with the soaring cost of coal, which generates some 
three quarters of China's electricity.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/reuters/business/business-china-oil-prices.html?_r=1&oref=slogin"><P>In Beijing and Shanghai, motorists queued for gasoline at 
petrol stations on Thursday night as word of the price hike 
leaked out. Police stood by at one Beijing petrol station.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/reuters/business/business-china-oil-prices.html?_r=1&oref=slogin"><P>At least one station told customers that it could not serve 
them until the price hike took effect at midnight, prompting an 
altercation between staff at the station and a group of angry 
motorists.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/895A266C-47E2-44BC-A708-20C360C16F87/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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