MANILA, Philippines – Petron Corporation and Isla LPG will slash prices of cooking gas on Monday by P5.50 per kilogram exclusive of taxes to reflect the huge drop in the international contract price of liquefied petroleum gas.
This latest rollback effectively decreases the price of a standard 11-kilogram LPG tank by about P68, according to Petron, which retails the Gasul brand.
Isla LPG, which meanwhile sells the Solane brand, added that the international contract prices fell by a hefty $133 per metric ton to $606.50 per MT this month, thus enabling the company to slash local prices of cooking gas.
In a separate text message, Party list Rep. Arnel Ty confirmed member companies of the LPG Marketers’ Association (LPGMA) are also slashing prices of cooking gas this month but did not indicate the amount of the rollback.
Member companies of LPGMA, which currently supply to an estimated 30 percent of the Luzon market, carry LPG brands such as Island Gas, Regasco Gas, Pinnacle Gas, Cat Gas, M-Gas, Omni Gas and Nation Gas. Amy Remo, Philippine Daily Inquirer