Oil firms trim LPG prices

INQUIRER file photo

MANILA, Philippines—Two major liquefied petroleum gas suppliers are cutting prices this month despite mixed market signals as demand for heating fuel weakened.

Petron, which holds more than 40 percent of the Philippine LPG market, said in an advisory that it trimmed LPG cylinder product prices by P0.25 per kilogram as of 12:01 a.m. Friday.

AutoLPG prices were also cut by P0.14 per liter, Petron said.

Another provider, Total, said it was to slash the prices of its LPG cylinder products by P0.25 per kilogram (VAT inclusive) as of 6 p.m. Friday.

The rollback reflects contract prices of LPG for the month of May, the oil firms said.

Two other companies behind LPG cylinder brands, Isla LPG and Eastern Petroleum, said they did not see much difference in their contract price for May and are maintaining their prices.