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ENERGY & OFFSHORE | Staff Reporter, Hong Kong

LPG prices to drop up to $0.07 per liter in April

Price range is now at  $4.73 to $5.19.

In a release, the Electrical and Mechanical Services Department today announced an adjustment to the auto-LPG (liquefied petroleum gas) ceiling prices for dedicated LPG filling stations from April 1 to April 30, 2013 in accordance with the terms and conditions of the contracts of the dedicated LPG filling stations.

A department spokesman said that the adjustment on April 1, 2013 reflected the movement of the LPG international price in March 2013. The adjusted auto-LPG ceiling prices for dedicated LPG filling stations would range from $4.73 to $5.19 per litre, representing a decrease of $0.06 to $0.07 per litre.

The spokesman said that the auto-LPG ceiling prices were adjusted according to a specified pricing formula. The formula comprises two elements - the LPG international price and the LPG operating price. The LPG international price is the LPG international price of the preceding month. The LPG operating price is adjusted on the first day of February every year according to the movement in the Composite Consumer Price Index in the previous year.

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