Natural gas, LPG prices to be hiked in August: CPC
The China Post news staffThe China Post news staff--Domestic sales prices of natural gas may be hiked by 2.99 percent and liquefied petroleum gas (LPG) may be raised by NT$2.5 per kilogram, starting from Aug. 2, according to the state-run oil company CPC Corp., Taiwan.
July 31, 2012, 12:46 am TWN
The CPC is slated to officially announce the price hikes on Aug. 1, when the August contract price for LPG offered by Saudi Arabia is expected to be available, CPC officials said.
The domestic sales price of natural gas is likely to be raised by 2.99 percent or NT$0.52 per cubic meter. Accordingly, based on the average monthly consumption of 30 to 45 cubic meters per household, general households in Taiwan will face a monthly increase of NT$15.5 to NT$23 in natural gas spending.
Under the government regulations, the CPC is allowed to hike its natural gas price by 6 percent every three months. As it just raised natural gas price by 2.99 percent in July, the company won't be able to hike the price in September.
Meanwhile, as the August contract price for LPG offered by Saudi Arabia is likely to rise by NT$5 per kilogram compared to July, the CPC may raise its LPG price by NT$2.5 per kilogram to reflect 50 percent of the increased costs, as done in the past.
Accordingly, the price of a 20-kg LPG tank, most popular with local households, may be hiked by NT$50 per tank.