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Protest strike in France: threat of higher oil prices looms in Europe

October 21/2010

(Plastemart) -- About 500,000 people are on strike across France to protest draft legislation in parliament. This strike is in addition to the ongoing strike by oil refinery workers opposed to the pension reforms that is contributing to fuel shortages across the country.

11 refineries in France have halted operations or reduced output, fuel is out of supply in thousands of gasoline stations in France because strikers are blocking deliveries, and gas prices have propelled because of panic buying.

These strikes are having repercussions beyond France's borders. Analysts say that if the strikes continue, fuel shortage might push prices up across Europe in the coming months.


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