By Yu-huay Sun
March 2 (Bloomberg) -- CPC Corp., Taiwan’s state-owned oil company, cut liquefied petroleum gas prices for domestic customers to reflect lower international costs.
The wholesale price of LPG for households fell NT$1 (2.9 cents), or 4.8 percent, to NT$19.96 a kilogram effective today, the Taipei-based company said on its Web site. The price dropped NT$0.5 to NT$14.3 a liter for motorists at CPC gasoline stations.
LPG, a by-product of oil refining and crude oil and gas output, is used for cooking, heating and as motor fuel in Asia. Demand for heating purposes typically declines when winter in the Northern Hemisphere ends.
To contact the reporter on the story: Yu-huay Sun in Taipei ysun7@bloomberg.net
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