State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced cuts in this month’s wholesale prices of liquefied petroleum gas (LPG) to reflect declining energy costs.
The refiner said it would still keep liquefied natural gas prices (LNG) unchanged from last month, in accordance with the government’s policy to help stabilize domestic consumer prices.
Effective today, the company lowered its price for household LPG by NT$1.6 per kilogram and by NT$0.9 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 drop by NT$32 today, at a time when demand for the fuel is high because of the lower temperatures and the Lunar New Year holiday.
CPC did not adjust household LPG prices last month after raising prices by NT$2 per kilogram in December. The new price for household LPG is NT$26.86 per kilogram, which is still lower than NT$38.45 in South Korea, NT$45.20 in Japan and Hong Kong’s NT$47.98, the refiner said.
Prices for LPG used in cars will be between NT$19.90 and NT$28.45 for various categories of the fuel. Motorists who drive 1,000km per month will see a reduction of NT$90 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 traveled.