Jinan hikes gas prices for NGVs by 20%

Retail gas prices for vehicles in Jinan, the capital of Shandong province, have been increased by nearly 20%.
By Staff reporter 22 February 2017 0 24105

Retail gas prices for vehicles in Jinan, the capital of Shandong province, have been increased by nearly 20% from RMB 3.38 per cubic metre ($13.9/MMBtu) to RMB 3.98/cm, local media has reported.

Staff at a refilling station in Jinan told Interfax Natural Gas Daily that the reason for the increase was to shore up margins, which suffered in the wake of a price war between stations last year.

A source at Jinan’s municipal pricing bureau said the hike was to reflect market supply and demand.

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