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For the third time in recent months, drivers in China are finding themselves shelling out more each time they fill the tank. In China, retail fuel prices are regulated, just as other aspects of life are. As of this week, gasoline is at $3 per gallon in China, bringing it above prices in the United States.

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Back in June, the Chinese government increased the price of gas by an astonishing 16.7-percent overnight in an effort to pass the increased price of oil to its consumers. Since then, the Olympics have come and gone and the city of Beijing has instituted measures to improve the city's air quality.

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