China annouces it will cut fuel prices

[Guest Tony n Terrific]

The Chinese Government is cutting Diesel fuel prices by 18% and gas by 14%. Good news for Chinese Drivers. Still their gas is almost twice as high as our gasoline at the present.

 

http://money.cnn.com/video/#/video/news/20...121808.cnnmoney

[GZBILL]

The Chinese Government is cutting Diesel fuel prices by 18% and gas by 14%. Good news for Chinese Drivers. Still their gas is almost twice as high as our gasoline at the present.

 

http://money.cnn.com/video/#/video/news/20...121808.cnnmoney

 

From what I've been reading here, they are cutting fuel prices initially, but then adding more taxes to the prices while reducing taxes on car ownership and general use -- including tolls.