LPG prices to drop in Hong Kong

12:40, July 22, 2010      

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The Electrical and Mechanical Services Department of Hong Kong Thursday announced that auto-LPG (liquefied petroleum gas) ceiling prices for dedicated LPG filling stations will be reduced from Aug. 1 to 31.

A department spokesman said that the adjusted auto-LPG ceiling prices for dedicated LPG filling stations would range from 3.48 HK dollars to 3.88 HK dollars per liter, representing a decrease of 0. 2 HK dollar to 0.21 HK dollar per liter.

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 LPG operating price.

The LPG international price is that of the preceding month. The LPG operating price is adjusted on the first day of February every year according to the movement in Composite Consumer Price Index in the previous year.

Source: Xinhua

(Editor:祁澍文)

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