MANILA, Philippines – Pilipinas Shell Petroleum Corp. is slashing prices of cooking gas by P2 per kilogram effective on Friday.
This means that the price of an 11-kg cylinder of Shellane liquefied Petroleum gas (LPG) is going down by P22, Pilipinas Shell said.
Shell, in a company statement, said the latest price adjustment reflected the continued decline in the international contract price of LPG.
Member companies of the LPG Marketers Association (LPGMA), however, will not adjust their prices this week, according to partylist Representative Arnel Ty.
Ty said the group implemented a rollback last June and that the price rollback of Shell was probably meant to match prices in the market. He said their prices hovered at P680 per 11-kg tank.
The group, he added, would have to wait for next week to determine if their prices should be adjusted.
LPGMA member companies, which supply LPG products to an estimated 3 percent of the Luzon market, carry brands such as Island Gas, Regasco Gas, Pinnacle Gas, Cat Gas, M-Gas, Omni Gas and Nation Gas.
As of June 29, the international contract price for LPG stood at $909 per metric ton. Prior to Friday’s rollback, prices of LPG ranged from P684 to P757 per tank – higher than the LPGMA quoted price.