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