China To Cut Fuel Subsidies by 18%

autosanity.com — Did you know that Chinese citizens (those lucky enough to own a car) have only been paying about 60% as much for gasoline as we in the US do? Tonight, they will have to pay about 18% more as China starts to cut the subsidy somewhat. But still, that's a great bargain - equivalent to about $3.00 a gallon gas here.