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Chinese petrol far below global levels even after price hike - Feature - cyrano - 06-20-2008 10:11 AM
DPA
Beijing - "Did you fill up before midnight?" one Beijing taxi driver called out to another last night, making sure they all hit the Chinese capital's petrol stations before the clock struck 12. The taxi drivers are affected by a 16-per-cent increase in petrol prices, in force since Friday, and can only hope that their companies will pick at least part of the increased tab.
But in the end, many may face earning losses from 10 to 20 per cent.
"Can't be helped," one driver said, shaking his head. "It always hits us small fish."
Kerosene prices were also increased by 25 per cent and electricity fees are to go up 4.7 per cent next month.
Yet, driving is still cheap in China, the world's second largest oil consumer after the United States, with its petrol prices the envy of drivers in many other countries.