LPG price rollback expected in January

INQUIRER FILE PHOTO

MANILA, Philippines – The price of liquefied petroleum gas (LPG) is expected to drop in January, the LPG Marketer’s Association (LPGMA) told Inquirer Radio 990AM on Tuesday.

LPGMA partylist Representative Arnel Ty said the reduced demand for LPG in the international market would most likely push prices down in January.

“Based on our monitoring of the contract price on the international market…the demand for LPG softened amid the winter season…There is a lowering of contract price but it will be felt next year because the price of LPG is adjusted monthly,” he said during the interview.

Ty said they have yet to calculate how much the rollback would be but estimated it to be around 30 percent from the last increase.

In early gas companies raised the price of LPG by around P14 per kilogram.

The congressman said this resulted in one of the biggest increases in the price of LPG. He said an 11-kilogram LPG tank now costs more than P900.

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