When Asian nations slash fuel subsidies, will this reduce U.S. gas prices?

Question

When Asian economies, which have led growth in fuel consumption, including Malaysia, India, Taiwan and Indonesia, slash subsidies because they have become too costly, will that lead to a reduction in gas prices in the U.S. and Europe?

Answer 1

If it substantially lowers demand in those countries.  Problem is always that oil is a very price inelastic commodity because we require it for so many aspects of life.  You can never really tell just how much high prices will weaken demand.  Then likewise, how much lower prices will increase demand in the U.S. thus raising prices again.

Answer 2

No, that would be internal to the slashing country.

Answer 3

Certainly!

and wait..how could you forget CHINA!

Answer 4

It seems to be the case based on a few articles I've read.