Ceiling Prices of Motor LPG at Dedicated LPG Filling Stations

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The Government announced today (July 31) the adjusted ceiling prices of motor liquefied petroleum gas (LPG) for dedicated LPG filling stations for the period from 1 August 2002 to 31 January 2003.

A Government spokesman said the adjusted ceiling prices, ranging from $1.76 per litre to 2.05 per litre, is adjusted based on a specified pricing formula. This compares with the previous ceiling prices of $1.85 per litre to 2.15 per litre at the dedicated stations.

He pointed out that the actual selling price of motor LPG at a dedicated station may be lower than the ceiling price, depending on the decision of the respective contractor based on market condition.

The adjustment of the ceiling price is based on a pricing formula specified in each contract. The formula comprises two elements, LPG international price element and LPG operating price element. The first element will be adjusted twice a year by the average LPG international price in the preceding six months while the second element will be adjusted yearly according to movement in the Composite Consumer Price Index in the previous year.

Below are the motor LPG ceiling prices for dedicated LPG filling stations effective from 1 August 2002 to 31 January 2003.

Location of Dedicated LPG Motor LPG

Filling Station Ceiling Price

(1/8/2002 to 31/1/2003)

Fung Yip Street, Chai Wan HK$ 2.05/lit

& Ngo Cheung Road, West Kowloon

Fung Mat Road,Sheung Wan; HK$1.76/lit

Wai Lok Street,Kwun Tong &

Yuen Chau Tsai, Tai Po

Sham Mong Road, Mei Foo & HK$1.81/lit

Yip Wong Road, Tuen Mun

Cheung Yip Street, Kowloon Bay HK$1.79/lit

& Kwai On Road, Kwai Chung

The above nine dedicated stations are now in operation, including the first batch of stations at Chai Wan, West Kowloon, Sheung Wan, Kwun Tong and Tai Po and the second batch at Kowloon Bay, Kwai Chung, Mei Foo and Tuen Mun.

He added that the third batch of three dedicated LPG filling stations located in Wan Chai, Yuen Long and Ma On Shan will be completed around the end of August this year. The ceiling prices for the third batch of dedicated stations will be announced separately upon the opening of the stations.

End/Wednesday, July 31, 2002

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