MANILA, Philippines?Liquefied petroleum gas retailers have raised prices of cooking gas by P2 per kilogram effective Tuesday.
This means that the price of an 11-kg LPG cylinder, which is used by most households, is expected to increase by P22, according to LPG Marketers Association (LPGMA) president Arnel Ty.
In a phone interview, Ty explained that the latest price hike can be attributed to the $55-per-metric-ton increase in the international contract price. This brings the contract price for LPG to $652 per MT in September, up from last month?s price of $597 per MT.
Ty added that an LPG tank from LPGMA member companies would now cost at least P547 after the latest price increase, which broke the downtrend in LPG prices over the past several months.
LPGMA member companies, which supply 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.
Ty added that this was likely the only LPG price.