China Sets Oil Price Floor at $40 to Protect Domestic Supply

``China won't let fuel prices fall in line with crude below $40 a barrel as the the world's second-biggest oil consumer seeks to curb pollution and shield domestic producers from oil's collapse. The price of fuels such as gasoline and diesel won't be adjusted as long as crude is below $40 a barrel, the National Development and Reform Commission, the country's top economic planner, said in a statement Wednesday. Profits from fuel sales below the $40 level will go to a fund to promote energy conservation and security and improve fuel quality, according to the NDRC.''