State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday hiked the wholesale prices of liquefied petroleum gas (LPG) by NT$3.1 per liter effective today, after cutting prices by NT$5.5 and NT$5.75 in November and December respectively.
LPG products such as household LPG, propane and butane, as well as propane/butane mixes, will all go up by NT$3.1 per liter; while automotive LPG will increase by NT$1.7 per liter, CPC said.
The price of a 20kg household gas cylinder is expected to increase by NT$62. Families can expect to pay an additional NT$93 per month, while foods stands and restaurants could see additional costs of NT$300 to NT$930 per month.
CPC vice president Lin Maw-wen (林茂文) said the plans to raise LPG prices this month to reflect world energy prices were put on hold until yesterday because of the Lunar New Year holiday.
The international contract price for LPG jumped 32.9 percent from last month’s US$380 per tonne to US$505 per tonne this month, he said.
CPC will also raise its gasoline and diesel prices by NT$0.3 and NT$0.2 per liter respectively today. A liter of 98-octane unleaded gasoline will be NT$24.6, 95-octane unleaded gasoline will be NT$23.1, 92-octane unleaded gasoline will be NT$22.4 and diesel will be NT$19.5.
Meanwhile, Formosa Petrochemical Corp (台塑石化) said yesterday that it would hike its wholesale gasoline prices by NT$0.3 per liter, but would lower diesel prices by NT$0.4 per liter in a bid to strengthen its clients’competitiveness.