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CPC to slash price of liquified petroleum gas

TAIPEI, Taiwan -- State-run oil refiner CPC Corp. (中油) announced yesterday that starting in January, the pricing of liquefied petroleum gas will be reduced by NT$3.6 per kilogram, while the pricing of natural gas will remain the same.

For a 20-kilogram liquefied gas tank, the reduction amounts to a new total price of NT$72. For commercial propane, commercial butane and the commercial propane and butane mixture, the price will also be reduced by NT$3.6 per kilogram. As for liquefied petroleum gas for use in vehicles, the pricing will be reduced by NT$2 per kilogram, CPC said.

It was recently decided in the Legislative Economics Committee that the pricing of liquefied petroleum gas will be reduced, and in the future an international decline in price must be reflected in domestic pricing as well.

CPC said that the pricing for February of this year, the month in which the Chinese New Year arrives, is pending evaluation based on domestic and foreign economic circumstances. The company will hold a press conference to discuss February pricing, CPC said.

In an effort to keep the prices low and to work in tandem with the government to stabilize consumer prices, CPC said that the company lost NT$9.65 per kilogram since December of last year, adding that it is assisting the public to relieve economic strains. CPC will try to recoup the loss in the future, as prices are expected to be re-adjusted down the road.

With regard to the pricing of natural gas, CPC said that the cost of liquid natural gas has remained stable, and the domestic price will also remain stable following the price adjustment mechanism.

Regarding this year's trend of liquefied petroleum gas pricing, the deputy general manager of CPC said that pricing is usually high in the winter season and lower in the summer. The pricing depends on global demand and weather, the company said.

CPC pointed out that natural gas is a limited resource in the world, and that it is important to cherish natural resources and practice energy conservation.

Taiwan has experienced a couple of cold waves recently. As a result, use of gas for heating has surged lately. It has become more common to see gas tanks being delivered to households or businesses, even on holidays.

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