Petrol price action

[Robert Vermaat]

In the US we are feeling the pinch. My big question is , how do people in China and India afford gas when they make so much less per hour than we do?

They're expected to be hit badly and probably see an economic slowdown, as well as a necessary increase in their prices which would add to their problems. Or so I've read.

China just raised fuel prices by 18%. of course, that means fuel is still ssubsidied and very cheap, but it's an indication of things to come, I assume. If large ships cannot steam from Asia with cheap goods for a very low travel cost, things will change in global economics.