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The Electrical and Mechanical Services Department today (January 26) announced an adjustment to the auto liquefied petroleum gas (LPG) ceiling prices for dedicated LPG filling stations from February 1 to February 28, 2007, in accordance with the terms and conditions of the contract of the dedicated LPG filling stations.
A department spokesman said that the adjustment on February 1 reflected the movement of LPG international prices in January and the LPG operating price adjusted according to the Composite Consumer Price Index (CPI) in 2006. Due to the increase of the LPG international price in January 2007, the auto LPG ceiling prices for February 2007 (to reflect the movement of LPG international price in January 2007) would adjust upward by $0.24 to $0.25 per litre.
According to the information from the Census and Statistics Department, the Composite CPI in 2006 was +2%. As such, the auto LPG ceiling prices would adjust upwards by $0.01 to $0.02 per litre depending upon the LPG operating price of each dedicated LPG filling stations. The total adjusted auto LPG ceiling prices for dedicated LPG filling stations would range from $3.10 to $3.49 per litre, representing an increase of $0.26 to $0.27 per litre.
The spokesman said the auto LPG ceiling prices were adjusted according to a specified pricing formula. The formula comprises two elements - the LPG international price and LPG operating price. The LPG international price is the LPG international price of the preceding month. The LPG operating price will be adjusted on the first day of February every year according to movement in the Composite Consumer Price Index in the previous year.
The following are the auto LPG ceiling prices for respective dedicated LPG filling stations in February:
Location of Auto LPG Auto LPG
Dedicated Ceiling Price Ceiling Price
LPG Filling Station in February 2007 in January 2007
(HK$/litre) (HK$/litre)
Fung Yip Street, Chai Wan 3.49 3.22
Ngo Cheung Road, West Kowloon 3.49 3.22
Sham Mong Road, Mei Foo 3.25 2.99
Yip Wong Road, Tuen Mun 3.25 2.99
Marsh Road, Wan Chai 3.25 2.99
Fung Mat Road, Sheung Wan 3.20 2.94
Wai Lok Street, Kwun Tong 3.20 2.94
Yuen Chau Tsai, Tai Po 3.20 2.94
Cheung Yip Street, Kowloon Bay 3.23 2.97
Kwai On Road, Kwai Chung 3.23 2.97
Hang Yiu Street, Ma On Shan 3.10 2.84
Tak Yip Street, Yuen Long 3.10 2.84
The spokesman said that details of LPG international prices and auto LPG ceiling price of each dedicated LPG filling station have been uploaded on the department website http://www.emsd.gov.hk. They are also posted at dedicated LPG filling stations to allow the trades to monitor the price adjustment.
Details of the new pricing adjustment mechanism for dedicated LPG filling stations can also be viewed under the "What's New" section of the department website.
Ends/Friday, January 26, 2007
Issued at HKT 16:01
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