SINGAPORE : Chinese cities have been raising residential natural gas prices in recent weeks after Beijing launched a new mechanism linking retail residential gas prices with distributors' fuel purchasing costs, a reform long sought by utilities.
China has in recent years taken steps to liberalise natural gas prices by allowing some cost pass-throughs in the commercial and industrial sectors, but has kept control of residential prices in what has been widely seen as an effort to avoid a consumer backlash. Purchase costs for city-gas distributors will be calculated by averaging the cost of different supply sources including piped gas, liquefied natural gas and compressed natural gas, said the sources.
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