Local oil firms raise LPG prices

Oil companies have significantly raised the retail prices of liquefied petroleum gas (LPG), a first this year, forcing consumers to further tighten their belts.

Petron Corp. and Phoenix LPG Philippines Inc. announced an increase of P11.20 per kilogram in the selling price of LPG products.

Solane raised its LPG price by P11.18 per kg.

Petron and Phoenix LPG Philippines also jacked up their AutoLPG prices by P6.25 per liter. Cleanfuel’s AutoLPG’s price hike was slightly lower at P5.50 per liter.

Petron and Phoenix LPG Philippines implemented the price hike at 12:01 a.m., Wednesday. Solane followed at 6 a.m. and Cleanfuel at 8:01 a.m on the same day.

In January, LPG prices were rolled back by P3.09 to P4.20 per kg and AutoLPG, by P2.35 to P2.50 per liter.