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China slashes fuel surcharges on domestic flights
Beijing (AFP) Dec 19, 2008 China said Friday it will cut fuel surcharges on domestic flights by up to 75 percent from December 25, in its latest move to adjust fuel costs in line with world oil price corrections. The charge on flights of more than 800 kilometres (500 miles) will come down to 40 yuan (5.8 dollars) from 150 yuan per ticket, the National Development and Reform Commission, China's top economic planning agency, said in a statement. Passengers on routes shorter than 800 kilometres will pay only a 20 yuan fuel surcharge, down from 80 yuan previously, it said. The cut followed a decision late Thursday to reduce retail and wholesale fuel prices in the country after world crude prices fell by 70 percent from record highs of 147 dollars a barrel reached in July. Analysts have said China should take advantage of the ongoing slump in global oil prices to revamp its domestic pricing system that has capped prices to keep inflation in check despite heavy losses to oil refiners. Related Links
Analysis: Inaction steers 2008 energy laws
Washington DC (UPI) Dec 17, 2008Energy took center stage in Congress this year with policymakers battling over domestic oil drilling and carbon emissions reductions amid volatile oil prices and a plummeting economy. A review of legislative action throughout 2008 tells a story predominantly of inaction, reaping mixed ratings from industry representatives, economists and energy experts. |
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