State-run refiner CPC Corp, Taiwan (CPC, 台灣中油) announced on Wednesday that it would increase the domestic prices of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) this month to reflect rising energy costs.
Effective yesterday, prices for household LPG went up by NT$2.5 per kilogram for this month, following a reduction of NT$1.5 per kilogram last month.
CPC said in a statement that it also increased the price of LPG used in cars this month by NT$1.4 per liter, after dropping the price by NT$0.8 a liter last month. The refiner raised the price of household LNG by NT$0.53 per cubic meter for this month, compared with an increase of NT$0.51 last month.
As a result, the price of a 20kg household gas cylinder — used by families, restaurants and food stands — is expected to increase by NT$50 this month from last month, while an average consumption of 30 to 45 cubic meters per month would mean an additional cost of NT$16 to NT$24 a household.
CPC, the nation’s only LNG importer, said it raised LNG prices by 2.99 percent on average for the various varieties of the fuel this month — the same level as last month.
The refiner is studying a plan to revise the LNG price mechanism, under which the current monthly ceiling of a 3 percent price increase is to be raised to 5 percent, while the 6 percent ceiling of cumulative price increases in three consecutive months is to be eliminated.