When the populace sees the country’s elite getting rich off of the oil revenue and then they want to raise fuel prices what do you expect? Let’s all buy more Exxon shares…
NH, you seem to have this weird fixation on Exxon. The company isn’t subsidizing the price of gasoline. As noted earlier, many oil-rich developing countries fix the price below the market. This helps keep everybody happy and, to a certain extent, aids in development. This situation usually gets too expensive to carry on, the fixed price is raised and riots follow.