Retailers cut LPG prices by P5-P5.50 per kg

INQUIRER file photo

MANILA, Philippines–Retailers of cooking gas have slashed prices by P5 to P5.50 per kilogram, effective Friday, to reflect the continued drop in the international contract price of liquefied petroleum gas (LPG).

Isla LPG, which earlier acquired the LPG business of Pilipinas Shell Petroleum Corp., and Total Philippines have both cut cooking gas prices by P5 per kg, while Petron implemented a higher rollback of P5.50 per kg. These price adjustments effectively cut the prices of the standard 11-kilogram LPG tank by P55 to P60.50 starting Friday.

According to industry sources, contract price of LPG fell by a hefty $130 to $722 per metric ton this month from $852 per MT in May.