MANILA, Philippines—Retailers of cooking gas are slashing prices by P1 per kilogram effective Tuesday, reflecting the continued downtrend in global prices.
This will be equivalent to an P11 reduction for an 11-kilogram cylinder, according to Liquefied Petroleum Gas Marketers Association (LPGMA) party-list Representative Arnel Ty.
In a phone interview, Ty explained that the latest price adjustment—which was due to a $60-per-metric-ton decrease in the international contract price of the LPG—had brought LPGMA members’ prices to P669 from P680 a tank.
LPGMA member companies, which supplied 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.
According to Ty, consumers may be able to expect further LPG price reductions next week, for as long this downtrend is sustained.
Last week, Petron Corp., Pilipinas Shell Petroleum Corp. and Total Philippines also slashed prices of cooking gas by P2 per kilogram to reflect the continued decline in the international contract price of LPG.