October 31, 2007 / 5:46 PM / 11 years ago

China says to adjust "low" natural gas prices soon

BEIJING, Nov 1 (Reuters) - China’s said on Thursday its natural gas prices are “seriously low” and it plans to adjust costs for industrial users and retail prices for car drivers soon, following a 10 percent rise in fuel costs on Thursday.

“China’s natural gas prices are seriously low, and supply contradictions are very obvious,” the National Development and Reform Commission said in a statement posted on its Web site (www.ndrc.gov.cn).

“In order to restrain the overly fast increase in industrial projects using natural gas and the blind development of cars changing from using oil to using gas...the measures for adjusting natural gas pricing will be implemented in the near future.”

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