Domestic gas prices up 19% in Shanghai

SHANGHAI: Despite plummeting oil prices on world markets, this city has become the first in the nation to raise its gas prices, by 19 percent effective yesterday.

The prices of natural gas and liquefied petroleum gas, both for home use, were raised from 2.1 yuan to 2.5 yuan per cubic meter, and from 1.05 yuan to 1.25 yuan per cubic meter respectively.

"The adjustment is made in line with the country's energy development strategy and for the purpose of conservation," Wu Zhenguo, vice-director of Shanghai municipal development and reform commission, told a press conference on Friday.