MANILA, Philippines—Retailers of cooking gas have slashed prices by 50 centavos to P1 per kilogram starting Thursday, to reflect the downward trend in the global prices of liquefied petroleum gas.
Oil giant Petron Corp. and Total Philippines implemented a P1 per kg decrease in LPG prices.
For Petron, this drop meant that the price for an 11-kilogram tank of Gasul or Fiesta was cut by P11. Petron explained that this was part of the company’s efforts to help Filipino households cope with high fuel prices.
“This supports government calls to implement measures that directly benefit consumers,” Petron said.
Meanwhile, member companies of the LPG Marketers Association (LPGMA) also slashed prices of cooking gas by 50 centavos per kg to reflect the $65-per-metric-ton drop in the international contract price, LPGA party-list Representative Arnel Ty said.
Ty said in an interview that the price of an 11-kg LPG cylinder from LPGMA member companies had gone down to P705, or by about P6 per tank.
LPGMA member companies, which supply LPG products to an estimated 30 percent of the Luzon market, carry brands such as Island Gas, Regasco Gas, Pinnacle Gas, Cat Gas, M-Gas, Omni Gas and Nation Gas.