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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