MANILA, Philippines — The price of cooking gas may rise by P3.50 a kilogram on Tuesday next week due to the expected increase in the international contract price of liquefied petroleum gas (LPG) next month.

This will raise the price of an 11-kilogram LPG cylinder, which is used by most households, by almost P40, according to the LPG Marketers Association (LPGMA).

In a phone interview, LPGMA president Arnel Ty explained that the latest price hike was due to an estimated $70-per-metric-ton (MT) increase in the international contract price.

He added that, as of this month, the contract price stood at $650 per MT and was expected to rise to $720 per MT by December.

Despite the anticipation for a bigger demand for LPG during the coming holidays, Ty assured the public that this would be the only increase they will implement next month.

This price hike is also the first to be implemented by LPGMA member companies, following the freezing of the prices of all petroleum products at their October 15 levels, by virtue of Executive Order 839.