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Shell, Petron cut cooking gas price by P1.20 per kg Thursday


07:11 PM August 31st, 2011

By: Amy R. Remo, August 31st, 2011 07:11 PM

MANILA, Philippines— Oil giants Pilipinas Shell Petroleum Corp. and Petron Corp. are cutting prices of cooking gas by P1.20 per kilogram effective Thursday (September 1), to reflect the decline in the international contract price of liquefied petroleum gas (LPG).

This means that the price of an 11-kilogram LPG cylinder from these two companies will decrease by P13.20.

For Shell, the latest price adjustment has brought the suggested retail price of its Shellane brand of LPG to P798 per tank.

LPG Marketers’ Association party-list Representative Arnel Ty said the international contract price of LPG fell by $28 per metric ton to $842 per MT this month. In August, the contract price stood at $870 per MT.

Ty, however, has yet to announce any price movements by among LPGMA members, which currently supply to an estimated 30 percent of the Luzon market. They carry LPG brands such as Island Gas, Regasco Gas, Pinnacle Gas, Cat Gas, M-Gas, Omni Gas and Nation Gas.

Originally posted at 5:32 p.m.

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