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Manila Bulletin devider Business devider LPG increased by P3.10/kg; gasoline prices up by P1.15/liter

LPG increased by P3.10/kg; gasoline prices up by P1.15/liter

Published Nov 1, 2021 12:16 pm

Filipino households relying on liquefied petroleum gas (LPG) for their cooking chores will need to allocate higher budget, as the price of that product had been increased by P3.10 per kilogram (kg) or an aggregate P34.10 for the standard 11-kilogram cylinder.

The other fuel commodity that will rise this week will be gasoline at P1.15 per liter as announced by the oil companies; while diesel will have a rollback of P0.35 per liter; and kerosene prices will be trimmed by P0.30 per liter.

For autoLPG, which is an alternative fuel used by the transport sector, industry players also issued pricing adjustment notices that this will climb by P1.73 per liter.

In particular, the LPG and autoLPG price hikes will be effective on November 1 (Monday) and the cost upswings had been mainly anchored on the fluctuation of Saudi Aramco contract prices --because that is being employed as a pricing reference for Asian markets.

In the case of petroleum products retailed at the pumps, the price adjustments will be due on Tuesday (November 2), in keeping with the weekly cost movements routine being implemented by the oil companies.

As of this writing, the oil companies that already sent notices on their price adjustments had been Pilipinas Shell Petroleum Corporation, Cleanfuel, Chevron, Seaoil and Total; while their competitors are anticipated to follow.

For the LPG price hikes, Petron Corporation already advised on its adjustment stating that the price uptick “reflects the international contract price of LPG for the month of November.” Its rival industry players are expected to go along with its pricing lead.

Prior to this round of upward adjustments, the pick-up price of LPG products in various retail outlets in Metro Manila had already been at P861.40 to P1,076.40 for the typical 11-kg tank.

On petroleum products, a monitoring report of the Department of Energy (DOE) showed that the up-and-down cost swings since the start of the year already incurred net increases of P20.80 per liter for gasoline; P18.45 per liter for diesel; and P16.04 per liter for kerosene.

International benchmark Brent crude softened to the level of $83 per barrel last week; and if that will be sustained in the coming trading days, market watchers are anticipating possible round of price rollbacks in the coming week.

Related Tags

#LPG #OILPRICES #SHELL #CHEVRON #PTT #SEAOIL #CLEANFUEL #DOE #BRENTCRUDE #SAUDICONTRACTPRICE
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