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 expense. This man calculates the price hike will cost him $300 more a month. This is going to have a huge impact on my life, he says. China controls prices at the pump, but earlier this month, authorities raised the ceiling by the biggest amount in four years because of surging oil prices triggered by the U. S. -Israeli war on Iran frustrating drivers. Who do you blame? I guess obviously if Trump didn't start a war and Israel didn't start a war, I wouldn't be sitting here all day waiting for my gas, right?