Price hike for natural gas likely

The government may raise the wholesale price of natural gas by 10 percent this month, said a source with China's largest oil producer.

This would be the second hike in its wholesale price since December 2005 when the National Development and Reform Commission (NDRC), the top economic planner, raised the price by 50 to 150 yuan per 1,000 cubic meters, an average increase of 10 percent.

A China National Petroleum Corporation official, who spoke on condition of anonymity, gave no further details including the timing of the price hike announcement.