fuel subsidy

3 Stories

Nigeria Cuts Fuel Prices, Halting Strikes

But some say renewed subsidies fall short

(Newser) - Strikes that shut down Nigeria's economy last week are off—at least temporarily—after the country's president announced new fuel subsidies. President Goodluck Jonathan has slashed fuel prices by a third to 97 naira per liter, or $2.27 per gallon, after they more than doubled Jan. 1,... More »

Venezuela Yanks Free Fuel for Poor Americans

Plunging price of oil forces Chavez to freeze fuel aid program

(Newser) - Venezuela has halted its gifts of free fuel to America's poor, the New York Times reports. The controversial foreign aid project supplied heating oil to 200,000 low-income households in 23 states and on Indian reservations, but the plunge in the price of oil has hit Venezuela hard and President... More »

China Jacks Up Energy Prices

Gas, electricity see 17%-18% increases as nation cuts subsidies to trim demand

(Newser) - China will raise domestic energy prices starting tomorrow, the Wall Street Journal reports, with gas and diesel costs jumping 18%. China’s heavily subsidized fuel is still cheaper than international rates, and the move may be an attempt to appease foreign governments, who blame Beijing's intervention for letting demand rise... More »

3 Stories