Drivers In China Rush To Buy Gas Before Prices Increase

Chinese state oil giant Sinopec issued a notice that the price of gas would be set higher by a meaningful amount starting March 24th. That's caused long lines at gas stations across China, like this one in central Beijing. As soon as I got the notice, I ran out to fill my tank, this driver says.Prices were tipped to go up $1 a gallon, as much as $15 more for a full tank. Public panic prompted authorities to cut the hike in half to $0.50%. For your average Chinese driver, the increase is still a significant ...