FACTBOX: Subsidies shield many world consumers from record oil

LONDON (Reuters) - Governments and state oil companies across the globe are bearing much of the brunt of record high oil prices on behalf of consumers, helping stoke demand in China and Brazil and weighing heavily on budgets from Indonesia and Mexico.

But many Asia governments such as India and Malaysia are finding they're no longer able to bear the full burden, forcing them to raise prices in order to cut subsidy costs.

Latest on the fray is China. Beijing announced on Thursday it would raise its nationwide pump diesel and gasoline prices by 1,000 yuan a tonne, or about 18 and 17 percent respectively from June 20th -- the first rise since November.

Find below details of major countries in Asia and Latin America that subsidize their fuel prices and what it costs them to do so. ***************************************************************

CHINA

RETAIL GASOLINE PRICE: $0.72/litre for 93-octane;

$0.67/litre for 90-octane

RETAIL DIESEL PRICE: $0.70/litre

LAST INCREASES: 10 pct on November 1 2007

RISE SINCE JAN 2003: gasoline prices by 67 pct, diesel by 71 pct. ID:nSP263366

SUBSIDY BORNE BY: Top refiner Sinopec Corp (0386.HK) and, to a lesser degree, upstream heavyweight PetroChina (0857.HK).

COST OF SUBSIDY: $1.37 billion payout to Sinopec in 2005

$685 million payout to Sinopec in 2006

Sinopec also won around 4.9 billion yuan for losses in 2007, and 7.4 billion for the first quarter of 2008.

SUBSIDY AS PCT OF TOTAL GOVT BUDGET COSTS: 2.9 pct in 2005;

0.1 pct in 2006