February adjustment in auto-LPG ceiling prices

     The Electrical and Mechanical Services Department today (January 27) announced an adjustment to the auto-LPG (liquefied petroleum gas) ceiling prices for dedicated LPG filling stations from February 1 to February 29, 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 reflected the movement of the LPG international price in January and the movement in the Composite Consumer Price Index in 2011. The overall adjusted auto-LPG ceiling prices for dedicated LPG filling stations will range from $4.69 to $5.13 per litre, representing an increase of $0.41 to $0.44 per litre.

     The spokesman said 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 the information from the Census and Statistics Department, the year-on-year rate of change in the Composite Consumer Price Index for 2011 is +5.3 per cent. As such, the LPG operating prices of dedicated filling stations are also increased according to this rate by around $0.04 to $0.07 per litre.

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

Location of               Auto-LPG      Auto-LPG
dedicated                 Ceiling       Ceiling
LPG filling station       Price in      Price in
                          February 2012 January 2012
                          (HK$/litre)   (HK$/litre)

Fung Yip Street, Chai Wan        5.13     4.69
Ngo Cheung Road, West Kowloon    5.13     4.69
Sham Mong Road, Mei Foo          4.86     4.44
Yip Wong Road, Tuen Mun          4.86     4.44
Marsh Road, Wan Chai             4.86     4.44
Fung Mat Road, Sheung Wan        4.80     4.38
Wai Lok Street, Kwun Tong        4.80     4.38
Yuen Chau Tsai, Tai Po           4.80     4.38
Cheung Yip Street, Kowloon Bay   4.84     4.42
Kwai On Road, Kwai Chung         4.84     4.42
Hang Yiu Street, Ma On Shan      4.69     4.28
Tak Yip Street, Yuen Long        4.69     4.28

     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 enable 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/Friday, January 27, 2012
Issued at HKT 10:03