Beijing city raises pump prices to fund cleaner fuel

Updated Wednesday, October 8, 2008 10:20 am TWN, Reuters

Beijing city raises pump prices to fund cleaner fuel

BEIJING -- Beijing’s city authorities have raised pump prices by up to 4 percent to cover the cost of cleaner fuel, a bold gesture of support for efficiency and green growth on a day when global oil markets hit an eight-month low. China’s central government has for years ignored rising oil markets to hold down state-set diesel and gasoline prices out of fear costlier energy could feed inflation or social unrest.

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