E1 said on May 1 that it will raise liquefied petroleum gas (LPG) supply prices in May. The move follows a surge in international LPG prices and shipping freight rates due to the Middle East situation.
LPG supply prices reflect the previous month's international LPG price, exchange rate, and freight in the current month's supply price, taking into account the time from oil-producing countries to domestic import.
The propane price was increased by 140 won per kilogram from the previous month, setting household and commercial use at 1,403.17 won per kilogram and industrial use at 1,409.77 won.
For butane, reflecting the fuel tax cut of about 30.7 won per liter (L), the company decided to raise the price by 51.1 won per liter. As a result, butane rose to 997.5 won per liter and 1,708.05 won per kilogram.
E1 said, "Due to the impact of the Middle East war, international LPG prices and shipping freight rates have soared, creating price hike pressures of around 500 won per kilogram, but we reflected only part of the increase factor to support the government's price stabilization policy and ease the burden on consumers."