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AOMORI, Japan: The United States and Asia's four largest economies called here Saturday for a "gradual" end to fuel price subsidies, but India and China signaled they would not move soon. US Energy Secretary Samuel Bodman met with leaders of Japan, China, India and South Korea here for talks that come one day after the highest single-day rise in crude oil prices. "We recognize that, moving forward, phased and gradual withdrawal of price subsidies for conventional energies is desirable," the five nations said in a joint statement. They said subsidies "should be replaced wherever possible by better targeted policies for intended beneficiaries."
-- AFP
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