The Electrical and Mechanical Services Department today (January 28) announced an adjustment to the auto-LPG (liquefied petroleum gas) ceiling prices for dedicated LPG filling stations from February 1 to February 28, 2010 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 price in January and the adjustment of LPG operating price according to the Composite Consumer Price Index (CPI) in 2009. The overall adjusted auto-LPG ceiling prices for dedicated LPG filling stations would range from $3.95 to $4.36 per litre, representing an increase of $0.04 to $0.05 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 is adjusted on the first day of February every year according to movement in the Composite Consumer Price Index in the previous year.
Due to the increase of the LPG international price in January 2010, the auto-LPG ceiling prices for February 2010 would adjust upward by $0.042 per litre. On the other hand, the year-on-year rate of change in the Composite CPI for the year 2009 was +0.5% according to the information from Census and Statistics Department. As such, the auto-LPG ceiling prices would adjust upward by $0.004 to $0.006 per litre depending upon the LPG operating price of each dedicated LPG filling station.
After overall adjustment, the auto-LPG ceiling prices for dedicated LPG filling stations would increase by $0.04 to $0.05 per litre.
The auto-LPG ceiling prices for respective dedicated LPG filling stations in February 2010 are as follows:
|Location of LPG Filling Station||Auto-LPG Ceiling Price in February 2010 (HK$/litre)||Auto-LPG Ceiling Price in February 2010 (HK$/litre)|
|Fung Yip Street, Chai Wan||4.36||4.31|
|Ngo Cheung Road, West Kowloon||4.36||4.31|
|Sham Mong Road, Mei Foo||4.11||4.07|
|Yip Wong Road, Tuen Mun||4.11||4.07|
|Marsh Road, Wan Chai||4.11||4.06|
|Fung Mat Road, Sheung Wan||4.06||4.01|
|Wai Lok Street, Kwun Tong||4.06||4.01|
|Yuen Chau Tsai, Tai Po||4.06||4.01|
|Cheung Yip Street, Kowloon Bay||4.09||4.05|
|Kwai On Road, Kwai Chung||4.09||4.05|
|Hang Yiu Street, Ma On Shan||3.95||3.91|
|Tak Yip Street, Yuen Long||3.95||3.91|
The spokesman said that the details of LPG international price and auto-LPG ceiling price of each dedicated LPG filling station had been uploaded on the department 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 pricing adjustment mechanism for dedicated LPG filling stations can also be viewed under the "Highlight" section of the department website at http://www.emsd.gov.hk/emsd/eng/welcome/index.shtml.
Ends/Thursday, January 28, 2010