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$12-15 per gallon coming soon to a pump near you
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[QUOTE]Originally posted by glassman: [QB] it would help some if China would re-value the Yuan to a more realistic level. IMO that's a part of what is going on. [b]Sinopec, PetroChina Shares Rise on Fuel-Price Talk (Update1) By Winnie Zhu May 21 (Bloomberg) -- China Petroleum & Petrochemical Corp. and PetroChina Co., the nation's two largest oil refiners, rose in Shanghai trading on speculation the government may relax curbs on fuel prices to boost gasoline and diesel supplies. Sinopec, as China Petroleum is known, surged 10 percent, the daily limit, to 12.55 yuan at the market's 3 p.m. close. PetroChina, the nation's second-biggest refiner, advanced 6.6 percent to 17.86 yuan, the steepest gain since April 24. Refiners can't pass on rising crude costs and have cut output to avoid wider losses, leading to shortages of diesel and gasoline. Supplies may tighten in parts of China as refiners divert shipments to southwestern areas struck by the nation's deadliest earthquake in 32 years last week. [/b] http://www.bloomberg.com/apps/news?pid=20601080&sid=aGCHAhy6ZCSg&refer=asia China set gas prices at under 1.50$ per gallon according to CNN: http://money.cnn.com/pf/features/lists/global_gasprices/price.html [/QB][/QUOTE]
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