Petron Corp., Total to cut prices of LPG Tuesday

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MANILA, Philippines—Local oil companies are adjusting prices of fuel and liquefied petroleum gas (LPG) products effective Tuesday,  to reflect the movements of oil prices in the global market.

Petron Corp. and Total Philippines both slashed prices of cooking gas by P3 per kilogram. This means that the price of an 11-kg LPG cylinder may be reduced by as much as P33.

Petron likewise slashed prices of its auto LPG products by P1.88 a liter, but had jacked up the price of premium gasoline by 35 centavos a liter.

Other oil companies had not announced their respective price adjustments, as of 6 p.m., on Monday.

Data from the Department of Energy showed that prior to this week’s oil price adjustments, diesel prices ranged from P38.25 to P41.19 a liter; gasoline products from P48.30 to P54.59 a liter; auto LPG, from P28.87 to P32.12 a liter; and an 11-kg LPG tank from P636 to P775.

As of March 25, the net increase in gasoline prices stood at 25 centavos a liter, while diesel price adjustments since the beginning of the year showed a net decrease of 95 centavos a liter.