NDRC denies gas rumor

The National Development and Reform Commission (NDRC) on Tuesday denied the rumors of a rise in natural gas prices.

"It is ridiculous," an official of the NDRC who wished to remain anonymous was quoted by the 21st Century Business Herald newspaper as saying, noting that he has already received many inquiries and calls about the rumor.

He said a change in the price of gas would have a huge impact on the country's GDP and people's daily living expenses, so the government "won't make any hasty decision."

Media reports said Monday that the retail price of natural gas might surge by 1 yuan ($0.16) to 4 yuan per cubic meter starting from April, and some listed gas distributors saw dramatic share price rises