Sentences with phrase «oil subsidy causes»
Not exact matches
It also gradually phased out subsidies that kept retail fuel cheap, causing prices at the pump to climb by an average of nearly 25 % since 2014, even though global oil prices fell by as much as 75 % during that period.
http://www.businessinsider.com/
As I noted over at MNN recently, the loss of revenues caused by lower prices has meant that oil producers are trying to cut consumption at home by reducing subsidies and / or investing more heavily in alternatives.