After announcing an increase of 2.99% in natural gas prices on June 30th for only the users in the electrical industry, with no changes for other users, Taiwan’s state-run oil company CPC once again announced on July 1st that household LPG (barreled gas), industrial propane, butane, PB mixture, and auto LPG will retain their existing prices in July starting from midnight on the 2nd.
CPC announced on June 30th that the prices of natural gas have surged in July owing to the increase in the cost of imported gas sources based on the formula of natural gas prices approved by the government. Taking into account the impact of the COVID-19 pandemic on people’s livelihood and businesses, the CPC has decided that it would only impose a price increase of 2.99% for users in the electrical industry. For the other users, the prices are expected to be the same. Please visit the natural gas list prices on the official website of CPC for individual prices.
In addition, CPC also announced on July 1st that household LPG (barreled gas), industrial propane, butane, PB mixture, and auto LPG will remain on the existing prices in July starting from midnight on the 2nd.
CPC commented that the prices of LPG are stipulated according to the “Annual Review and Adjustment Mechanism on LPG Prices by CPC”. According to the calculation result on the prices of LPG, the product has had an increase of NT$2.9/kg in July, though the company will not implement a corresponding increase in prices considering how the pandemic has affected domestic industries and the people, and will temporarily absorb all relevant costs. Incorporating the previously absorbed price of NT$8.7/kg, the company will now endure an accumulation of NT$11.6/kg, which will be replenished during reduction of international prices.
(Cover photo source: pixabay)
