China adjusts oil and gas prices

Xinhua Beijing, May 31 (reporter Guocheng Jiang Liu Zheng) China National Development and Reform Commission announced 31st, from 0 o'clock June 1, the price of steam, diesel, respectively, reduced by 230 yuan and 220 yuan per ton (equivalent to about 0.2 yuan a litre),　　Domestic onshore natural gas factory benchmark price increase of 0.23 yuan per cubic metre, and further improve the price management of natural gas, improve the relevant price policy.　　Development and Reform Commission director Cao Changqing said, according to the recent international market price changes, comprehensive consideration of the current domestic and foreign economic situation, domestic oil market supply and demand, in accordance with the current oil price formation mechanism, decided to "timely and full" to reduce the price of oil products.　　Cao Changqing said that the price division in the long-term monitoring of international oil prices on the basis of the forecast to 31st is the current oil price formation mechanism in China to adjust the price of oil products time window, ahead of the relevant preparations to ensure that the earliest time to reduce the price of oil products. He said that the current domestic natural gas prices are significantly lower, and other alternative energy parity is unreasonable. There has been a rush of oil to change gas, competing for energy-intensive projects with natural gas as raw materials and fuel, resulting in tight resource supplies.　　In order to promote resource saving, rationalize the relationship between natural gas and other alternative energy, guide natural gas resource allocation and improve market supply, the country decides to raise the benchmark price of domestic onshore natural gas factory appropriately. The development and Reform Commission will be part of the oil and gas field one or two gas prices, the abolition of the "two-track" Price, the further expansion of price fluctuations, allowing both parties to the factory benchmark prices, in the floating 10%, the scope of the open negotiations to determine the specific price.　　In principle, in accordance with the highest retail price of petrol is not less than 0.75:1 of the price relationship to straighten out the prices of natural gas, to maintain the reasonable parity of the car gas. The development and Reform Commission also called for a reasonable arrangement of natural gas sales prices based on local conditions. For the residents to adjust the price of gas, according to the prescribed procedures for hearing, to co-ordinate arrangements for the disadvantaged groups of subsidies to ensure that low-income groups do not adjust for the price of civilian natural gas sales to reduce the standard of living. After adjusting the price of vehicle natural gas, we should deal with the effect of gas price adjustment on the incremental operation cost of taxis.　　has established the taxi tariff and the fuel price linkage mechanism place, may appropriately divert the taxi tariff, without the establishment linkage mechanism place, may take the temporary subsidy and so on the measure, alleviates the gas price enhancement to the taxi industry influence.　　According to the state regulations, the price of natural gas sales to the local government; Adjust the price of civilian natural gas must hold a price adjustment hearing. China's natural gas resource per capita is less than 10% of the world average. With the development of economy, domestic natural gas production can not meet the growing demand.　　After China became a natural gas importer in 2006, the number of imports increased every year. According to the Development Reform Commission, China's natural gas apparent consumption last year was about 90 billion cubic meters, with imports of 7.8 billion cubic meters and more than 8% of its external dependence. Imports are expected to exceed 15 billion cubic meters in 2010.Even so, there is still a big gap in gas supply. 2008 and 2009 domestic gas supply and demand gap of 3 billion and 9 billion cubic meters respectively.