fuel subsidy

(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,...

(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...

(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...