Despite expense, oil-producing countries keep subsidies in place
BEIJING: China, India and other nations that subsidize gasoline and diesel prices may be even less willing to raise prices than they were six months ago, aiding crude's ascent toward $130 even as demand deteriorates elsewhere. While Indonesia appears set to raise prices this month, the world's fastest-growing oil users show little inclination to reduce their subsidy programs and allow fuel prices to rise, as fighting inflation has become their top priority.