[bjs1779]

Gas hits 1.48 in Red China today.

http://money.cnn.com/pf/features/lists/global_gasprices/price.html

[RHINO369]

How much of the oil sold in China is domestic? Otherwise I can't explain why China's price is so cheap unless they have a large source of oil. There's a reason in Venezuela the price is 14 cents, thats how much it'd cost here if we could break OPEC. I think its a mistake to let Iraq manage its own oil reserve. We should have sold it to an American company and taken the money we got for selling it and used to rebuild Iraq. Then made damn sure those US owned oil fields sold well below market price at 100% capacity. Oil would be at 10 bucks a barrel in 6 months if that happened.

[RightWhale]

Gasoline is 2.20 by the trainload New York, which includes some taxes, then add taxes. If China is 1.48 that would be their tax structure doing that. Iran is 0.08, which is what it would be here if there were no taxes but state price support every step of the way.