Household budgets can take a slight breather this month as liquefied petroleum gas (LPG), which is a major cooking fuel commodity, will be slashed by P4.75 per kilogram (kg) or aggregate P52.25 for the standard 11-kilogram cylinder.
The LPG industry players that already announced price rollbacks are major player Petron Corp., and Phoenix Petroleum and Solane LPG. The adjusted prices will take effect on Tuesday, Dec. 1.
Petron, in particular, similarly announced price reduction for its autoLPG which is an alternative fuel for the transport sector, to the tune of P2.66 per liter and has also been due for Dec. 1 implementation.
The price downtrends, according to Petron, “reflect the international contract price of LPG for the month of December.”
The swing of cooking fuel prices in the country is typically anchored on the movement of LPG contract prices of Saudi Aramco, which is regarded as a pricing benchmark for Asian markets.
Prior to this round of cost rollback, the pick-up price of LPG in Metro Manila outlets had been at P862.00 to P1,074.00 for the standard tank, based on a monitoring report of the Department of Energy.
The lower LPG prices will be highly beneficial to Filipino consumers who will be on their festive activities during the Christmas holidays; and many will likewise be confined into their homes because of the threatening omicron variant of the coronavirus.