Chinese cities raise residential natural gas price after launch of new price mechanism

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Chinese cities have been raising residential natural gas prices after Beijing launched a new mechanism linking retail residential gas prices with distributors’ fuel purchasing costs.

Over 20 cities including Shijiazhuang, Handan, Nanjing and Mianyang have raised retail gas price by 0.25 yuan ($0.0347) to 0.40 yuan per cubic meter, according to information on local government websites, representing an increase of about 13%-15%. 

Some analysts say that the price hikes came after the National Development and Reform Commission (NDRC), the country’s top economic planner, in early June issue a guideline on gas prices, although the regulator did not make an official announcement.