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Auto LPG ceiling prices for Dedicated LPG Filling Stations

The Electrical and Mechanical Services Department (EMSD) announced today (February 25) an adjustment in the range of auto liquefied petroleum gas (LPG) ceiling prices for dedicated LPG filling stations from March 1 to March 31, 2006. This is the first adjustment (to reflect the movement of LPG international price in February, 2006) according to the monthly adjustment mechanism introduced from February 1, 2006.

An EMSD spokesman said that the adjusted auto LPG ceiling prices would range from $3.41 to $3.79 per litre which represents an increase of $0.64 per litre. The auto LPG ceiling prices are adjusted based on a specified pricing formula for dedicated LPG filling stations.

The pricing formula comprises two elements, namely LPG international price and operating price. The LPG international price will be adjusted according to movement in the LPG international price in the previous month. The 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. Under the monthly adjustment mechanism the operators of dedicated LPG filling stations should raise or lower their auto LPG pump prices on a monthly basis according to the movement of LPG international prices.   The operators cannot raise pump prices quickly and lower prices slowly.

The spokesman pointed out that the actual auto LPG pump price at a dedicated LPG filling station might be lower than the auto LPG ceiling price, depending on the decision of the respective operator based on market conditions.

The following are the auto LPG ceiling prices for respective dedicated LPG filling stations from March 1 to March 31, 2006.

 Location of Dedicated Auto LPG LPG Filling Station 

 

  Ceiling Price

 

 Fung Yip Street,Chai Wan   HK$ 3.79/litre
 Ngo Cheung Road, West Kowloon    HK$ 3.79/litre
 Sham Mong Road, Mei Foo  HK$ 3.56/litre
 Yip Wong Road, Tuen Mun        HK$ 3.56/litre
 Marsh Road, Wan Chai           HK$ 3.55/litre
 Fung Mat Road, Sheung Wan      HK$ 3.51/litre
 Wai Lok Street, Kwun Tong    
 HK$ 3.51/litre
 Yuen Chau Tsai, Tai Po         HK$ 3.51/litre
  Cheung Yip Street, Kowloon Bay                                   
 HK$ 3.54/litre
 Kwai On Road, Kwai Chung       HK$ 3.54/litre
 Hang Yiu Street, Ma On Shan              HK$ 3.41/litre
 Tak Yip Street, Yuen Long      HK$ 3.41/litre
 
The spokesman added that the details of LPG international prices and auto LPG ceiling price of each dedicated LPG filling station are also uploaded onto EMSD website http://www.emsd.gov.hk.


Ends/Saturday, February 25, 2006
Issued at HKT 17:01

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