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Q: How do China's gasoline prices compare with the world?
I just read where China stopped exporting oil in 2012 and became the largest importer of oil last year. How does this translate at the pumps?
http://www.mytravelcost.com/petrol-prices/
It's for February 2014. So it sounds it's at the same price as Australia, almost 2x time more expensive than in US, but still way cheaper than in Europe.
As petrol prices are state controlled in China, the price doesn't reflect market prices directly. If world prices go up, naturally the price at the pump would need to go up, but for China it is not like e.g. in Europe where the price at the pump changes throughout the day (both due to market prices but also due to other factors like exploiting rush hour etc)
DrMonkey:
Yeah, state-controlled prices, I see it as "Even if you don't have a car and don't want one, some of your taxes will go on helping people who have a car by keeping gasoline price lower". Meh.
Scandinavian:
In China. I think the government wins on gas prices, there is some tax on it, otherwise they would have no "buffer" against market prices, and if there was no tax, the price should be more like in the US.
Chinese petrol prices are half that of the UK. Petrol taxes in the UK make up about 70% of the cost so my uneducated guess is that is probably the main difference to here.
Sudbury Ontario Canada 1.40 a liter this past weekend, Shanghai China 9 Yuan 1.57 CNDa liter
