State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it would cut the wholesale prices of liquefied petroleum gas (LPG) this month to reflect declining energy costs.
The refiner said it would keep liquefied natural gas prices (LNG) unchanged from last month as the import costs of LNG were unchanged from last month, leaving LNG prices at between NT$18.38 and NT$20.87 per cubic meter for various categories.
According to a statement on CPC’s Web site, the price for household LPG fell NT$3.6 per kilogram, effective today, while LPG for use in cars is down by NT$2 per liter.
The new price for household LPG is NT$31.31 per kilogram, which is still lower than the NT$41.34 charged in South Korea, NT$42.35 in Japan and Hong Kong’s NT$48.67, according to CPC’s tallies.
Under the latest price adjustments, the price of a 20kg household gas cylinder — most commonly used by families, restaurants and food stands — is expected to drop by NT$72 today, at a time when demand for the fuel is high because of the lower temperatures and the upcoming Lunar New Year holiday.
Prices for LPG used in cars will be between NT$22.9 and NT$34.0 for various categories of the fuel.
Motorists who drive 1,000km per month will see a reduction of NT$200 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.