(File photo)
MANILA – The retail prices of liquefied petroleum gas (LPG) have decreased for two consecutive months as firms announced price rollbacks for this month.
Phoenix LPG said it slashed LPG prices by PHP5.18 per kg.; Petron, by PHP5.20 per kg.; and Solane LPG, by PHP5.21 per kg.
The new price rollback translates to a decrease of PHP56.98 to PHP57.31 for a regular 11-kg. LPG tank, which is mostly used by households.
For Auto LPG products, price cuts were pegged at PHP2.86 per liter for Phoenix LPG and PHP3.30 per liter for Petron LPG.
The price adjustments took effect at 12:01 a.m. Wednesday.
The lower LPG prices for June reflected the contract prices in the world market for this month.
Data from the Department of Energy show that the LPG contract price in May decreased by USD97 per metric ton to USD857 per metric ton from USD954 per metric ton.
According to the department, an 11-kg. cylinder of LPG in Metro Manila cost from PHP915.75 to PHP1,135.75 in May. (PNA)
Source: Business Diary Philippines
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