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October adjustment in auto LPG ceiling prices

The Electrical and Mechanical Services Department announced today (September 29) an adjustment to the auto liquefied petroleum gas (LPG) ceiling prices for dedicated LPG filling stations from October 1 to October 31, 2006, in accordance with the terms and conditions of the contract of the dedicated LPG filling stations.

A department spokesman said that the adjustment on October 1 reflected the movement of LPG international prices in September.  The adjusted auto LPG ceiling prices for dedicated LPG filling stations would range from $3.14 to $3.52 per litre, representing an increase of about $0.06 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 October:

Location of                         Auto LPG              Auto LPG
Dedicated                        Ceiling Price         Ceiling Price
LPG Filling Station               in Oct 2006           in Sept 2006
                                           (HK$/litre)           (HK$/litre)

Fung Yip Street, Chai Wan               3.52                  3.46
Ngo Cheung Road, West Kowloon    3.52                  3.46
Sham Mong Road, Mei Foo              3.29                  3.23
Yip Wong Road, Tuen Mun              3.29                  3.23
Marsh Road, Wan Chai                    3.28                  3.22
Fung Mat Road, Sheung Wan          3.24                  3.18
Wai Lok Street, Kwun Tong              3.24                  3.18
Yuen Chau Tsai, Tai Po                    3.24                  3.18
Cheung Yip Street, Kowloon Bay     3.27                  3.21
Kwai On Road, Kwai Chung             3.27                  3.21
Hang Yiu Street, Ma On Shan          3.14                  3.08
Tak Yip Street, Yuen Long               3.14                  3.08

The spokesman said details of LPG international prices and auto LPG ceiling price of each dedicated LPG filling station were uploaded on the EMSD website http://www.emsd.gov.hk. They are also posted at dedicated LPG filling stations to facilitate 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 EMSD website.

Ends/Friday, September 29, 2006

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