LPG prices to remain unchanged in June: CPC

Taipei, May 30 (CNA) CPC Corp., Taiwan said Saturday it will keep domestic liquefied petroleum gas (LPG) prices unchanged in June despite rising international LPG prices.

Starting midnight Tuesday, prices for LPG cylinders, industrial propane, butane, propane-butane fuel mixtures and automotive LPG will remain unchanged, CPC said.

The state-owned oil supplier said domestic LPG prices should have been raised by NT$2.8 (US$0.09) per kilogram in June, as tensions in the Middle East have pushed up shipping costs.

However, CPC said it was following government instructions to stabilize consumer prices by absorbing the increase, in a bid to ease the financial burden on households and restaurants.

CPC said it absorbed NT$4.2 billion in losses on domestic LPG sales in the first four months of the year, adding that it will continue to monitor the international LPG market and review domestic pricing dynamically.

Meanwhile, CPC said prices for natural gas used by households and the service sector will also remain unchanged in June to help stabilize consumer prices and ease pressure on families and small businesses.

However, natural gas prices for industrial customers will rise by an average of 5 percent in June to reflect higher costs amid geopolitical unease, CPC said, adding that the increase will still not fully cover its costs.

From January 2021 to April 2026, CPC absorbed more than NT$140 billion in losses on natural gas sales to the industrial sector, the company said.