INQUIRER FILE PHOTO
MANILA, Philippines–Independent refillers under the Liquefied Petroleum Gas Marketers’ Association (LPG-MA) on Monday said that they will implement a P2 per kilogram roll back in prices by midnight.
“Owing to the sustained drop in the international contract price of LPG, we are further reducing prices by P2 per kilo, or by P22 for every 11-kilogram cylinder,” said the group in a statement. They cited as reason “softer LPG prices in the weeks ahead.”
Refillers not aligned with the big oil companies tend to sell LPG at prices up to 20 percent lower than branded cooking gas.
LPG-MA representative Arnel Ty said that the international contract price of LPG has been steadily declining due to weaker demand from the slowing economies of the United States and Europe.
He said that a stronger peso was making local importers’ LPG purchases overseas cheaper.