chinese oil

China braces for leap in gas prices

But Tang and millions of other Chinese are bracing for a big jump in pump
prices. The day of reckoning? Everybody believes it's coming right after the
Summer Olympics in Beijing conclude in late August.
...
The reason, as most see it, is that the central government doesn't want to
risk doing anything that could upset the populace before the Games, which open
Aug. 8. China is already grappling with inflation running at an annual pace of
more than 8%, mostly because of higher food costs
...
Other countries that subsidize fuel costs have boosted prices recently, in
some cases stirring unrest. Protests flared late last week in India, where the
government upped prices by about 10%, and there were calls for mass rallies in
Malaysia after gasoline prices jumped 41% overnight.