Tue, Oct 02, 2012 - Page 13 News List

State refiner says no price increase for LPG, LNG

NO CHANGE:The DPP caucus said that CPC should not raise prices until the state refiner comes up with a full program for personnel and corporate restructuring

By Kevin Chen  /  Staff reporter

State-run refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced there would be no price change for liquefied petroleum gas (LPG) this month, after it raised household LPG prices by NT$2.50 per kilogram, industrial LPG by NT$2.50 per kg and LPG used by vehicles by NT$1.30 per kg last month.

In addition, domestic liquefied natural gas (LNG) prices will stay put for a second consecutive month this month, in line with the government’s move to stabilize domestic consumer prices, CPC said in a statement.

The announcement came after the Democratic Progressive Party (DPP) legislative caucus earlier yesterday demanded that CPC freeze both LPG and LNG prices until it comes up with a full program for personnel and corporate reform.

The DPP caucus said the company should pay attention to the impact of any proposed price hikes on household finances, with the latest government data showing that the consumer price index rose to a four-year high in August.

The state refiner said that under its pricing mechanism, LPG prices should have gone up by NT$0.3 per kilogram and LNG prices should have increased 31.21 percent from last month to fully reflect increased costs.

However, in view of rising inflationary pressure, the refiner said it would absorb the cost increase to help stabilize consumer prices.

As a result, the price of household LPG remains NT$30.06 per kg, the price of industrial LPG will still be in the range of NT$32.75 to NT$32.95 and that of LPG used in cars will be between NT$22.20 and NT$32.75, company data showed.

As for LNG prices, this month’s prices would still range from NT$18.49 to NT$20.99 per cubic meter, data showed.

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