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LPG prices up by P0.15/kg; pump prices on rollback next week

Business

LPG prices up by P0.15/kg; pump prices on rollback next week

By Myrna M. Velasco

Prices of liquefied petroleum gas (LPG) increased by P0.15 per kilogram (kg) or P1.65 for the standard 11-kilogram, according to the industry players.

The first LPG company to send notice on its price hike was Phoenix Petroleum Philippines Inc. for its Super LPG brand; with its adjustment effective 12:01 am of August 1 (Saturday).

The company similarly advised that its auto LPG fuel or the product used by vehicles had increased by P0.10 per liter.

Industry-competitors are anticipated to follow, as had always been the usual pricing trend in the deregulated downstream oil industry; wherein market forces take sway in price swings.

For petroleum products at the pumps, the anticipation will be slight rollback of P0.20 to P0.30 per liter for gasoline and diesel products; and P0.15 to P0.25 per liter for kerosene products.

With more or less stabilizing prices in the world market, consumers had not been distressed with massive price adjustments in recent weeks.

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