China hikes non-residential natural gas prices

BEIJING, Aug 12 (Xinhua): China will increase the wholesale price of natural gas for non-residential use by 20.5 per cent from Sept. 1 to "guide the reasonable allocation" of resources, the top economic planner announced on Tuesday.
The price adjustment will only be based on the amount of natural gas industrial and commercial users consumed in 2012, while the price for newly added gas consumption since then will remain unchanged, according to the National Development and Reform Commission (NDRC).
Meanwhile, the natural gas price hike will be waived for the time being for fertiliser makers, a sector that is struggling currently, with the NDRC saying it will apply the price changes to fertiliser makers "at an appropriate time later."
After the adjustment, the price of non-residential natural gas will rise by 0.4 yuan to 2.35 yuan (about 38.2 US cents) per cubic meter at gas stations.
The latest hike comes after a similar 15.4-per cent increase for non-residential gas consumers in July last year when the NDRC launched a new pricing mechanism.