State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced hikes in this month’s wholesale prices of liquefied petroleum gas (LPG) to reflect the rising costs of energy.
Effective today, the company raised its prices for household LPG by NT$1.4 per kilogram and NT$0.7 per liter for LPG used in cars, a company statement said.
The price of a 20kg household gas cylinder — often used by families, restaurants and food stands — is expected to increase by NT$28 today, at a time when demand for the fuel is high because of the lower temperatures and the approaching Lunar New Year holiday.
The price hike for household LPG follows two consecutive price reductions in the previous two months, CPC said. This month’s hike represented a 12.6 percent increase from last month’s level, the company said.
CPC said in the statement that the new wholesale price for household LPG would be NT$16.08 per kilogram, which is still NT$23.88 lower than the price in South Korea, NT$39.96, and the cheapest in Asia.
The company said its increase of NT$0.7 per liter for LPG used in cars represented an adjustment of between 4.86 percent and 8.51 percent for various categories of the fuel.
Motorists who drive 1,000km per month will see an increase of NT$70 in fuel charges each month by using LPG instead of gasoline, based on an industry average that 1 liter of LPG is needed for every 10km.