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Gas prices rise in China
Last Updated(Beijing Time):2004-10-13 15:37

In response to the rising cost of international oil, key gas importers in the country have raised their prices. The affected companies say there is limited wiggle room for prices as the Chinese government has put a ceiling on charges.

The average price for gas in Jiangsu, Zhejiang and Shanghai hit 4,721 yuan, or 570 US dollars per ton on Monday, that's up 2.5 percent from the previous day. Meanwhile, domestic suppliers raised the factory price by a large margin of 200 yuan to 4,600 yuan.

But the gas companies say the retail price won't raise much due to price ceilings set by the country's pricing authorities. Analysts say the gas prices for domestic use are expected to be capped at three yuan by the end of the year. Finally, gas prices charged to taxies will be no higher than 2.59 yuan.

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