State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced cuts in this month’s wholesale prices for liquefied petroleum gas (LPG) products to reflect the declining costs of energy.
Effective today, the company cut its prices for household LPG by NT$1 per kilogram and NT$0.5 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 — will therefore drop by NT$20 today.
INCREASES
The price cut for household LPG products follows two consecutive price increases in the previous two months, CPC said.
This month’s cut represented a 4.8 percent decline from last month’s level, the company said.
CPC said that the new wholesale price for household LPG would be NT$19.96 per kilogram, which is still NT$16.16 lower than the NT$36.12 price in South Korea, and the cheapest in Asia.
The company said its cut of NT$0.5 per liter for LPG used in cars was an adjustment of between 2.25 percent and 3.38 percent for various categories of the fuel.
SAVINGS
Motorists who drive 1,000km per month will see a drop of NT$50 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.
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