Add a New Bears Reason Concept: Peak Oil Headline: (100 character max) Analysis: Cancel 100% agree 1 votes   China raises oil and diesel prices to curb demand Top Contributor: Jack Bass | Last edited on 06/19/08 | Edit | History June 19,2008 China, the second-biggest fuel consumer after the U.S., will increase gasoline and diesel prices by 1,000 yuan ($145.50) a ton starting tomorrow, China Central Television said. Jet fuel and power prices will also increase. Oil has almost doubled in the past year partly because of rising Chinese demand. This is an attemp to not only reduce demand but is aimed at curbing the high subsidy the government pays to control prices. (100 character max) Cancel

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