February 2013 adjustment in ceiling prices for dedicated LPG filling stations

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, 2013 in accordance with the terms and conditions of the contracts of the dedicated LPG filling stations.

A department spokesman said that the adjustment on February 1, 2013 reflected the movement of the LPG international price in January 2013 and the movement in Composite Consumer Price Index in 2012. The overall adjusted auto-LPG ceiling prices for dedicated LPG filling stations would range from $4.98 to $5.44 per litre. The ceiling prices of two stations would be reduced by $0.02 and eight stations would be reduced by $0.01, whilst the remaining two stations would remain unchanged.

The spokesman said that the auto-LPG ceiling prices were adjusted according to a specified pricing formula. The formula comprises two elements - the LPG international price and the 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 the movement in the Composite Consumer Price Index in the previous year. According to information from the Census and Statistics Department, the year-on-year rate of change in Composite Consumer Price Index for 2012 is +4.1 per cent. As such, the LPG operating prices of dedicated filling stations are also increased according to this rate by around $0.04 to $0.05 per litre.

The auto-LPG ceiling prices for respective dedicated LPG filling stations in February 2013 are as follows:

Location of                         Auto-LPG       Auto-LPG
Dedicated                            Ceiling          Ceiling
LPG Filling Station                 Price in         Price in
                                    February 2013  January 2013
                                         (HK$/litre)    (HK$/litre)

Fung Yip Street, Chai Wan              5.44       5.44
Ngo Cheung Road, West Kowloon   5.44       5.44
Sham Mong Road, Mei Foo            5.16       5.17
Yip Wong Road, Tuen Mun            5.16       5.17
Marsh Road, Wan Chai                 5.16       5.17
Fung Mat Road, Sheung Wan         5.10       5.11
Wai Lok Street, Kwun Tong           5.10       5.11
Yuen Chau Tsai, Tai Po                 5.10       5.11
Cheung Yip Street, Kowloon Bay    5.14       5.15
Kwai On Road, Kwai Chung           5.14       5.15
Hang Yiu Street, Ma On Shan          4.98       5.00
Tak Yip Street, Yuen Long             4.98       5.00

The spokesman said that the details of the LPG international price and the auto-LPG ceiling price of each dedicated LPG filling station have been uploaded to the department website 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 www.emsd.gov.hk/emsd/eng/welcome/index.shtml.

Ends/Monday, January 28, 2013
Issued at HKT 10:01

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