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The ceiling price of liquefied petroleum gas will rise, due to the continual increase and high standing of the international price from January to June.
The rise will affect LPG filling stations from August 1 to January 31. Ceiling prices will increase 16 to 17 cents per litre, and the new ceiling prices range from $2.08 to $2.45 per litre.
Ceiling prices are adjusted based on a specified pricing formula which comprises two elements, namely the international and operating prices.
The former is adjusted twice a year by the average LPG international price during the previous six months, while the latter is adjusted annually according to movement in the Composite Consumer Price Index the previous year.
The actual selling price at LPG stations may be lower than the ceiling price, depending on the decision of the respective contractor based on market conditions.
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