LPG prices rolled back

INQUIRER FILE PHOTO

Retailers of liquefied petroleum gas (LPG) greeted 2014 with a price rollback on softer international contract prices.

Starting 12 a.m. Wednesday, Petron implemented a P7.65 per kilogram price cut (including VAT) “to reflect the drop in international contract prices for the month of January.” This adjustment took effect nationwide except in Bohol and Cebu, where a P5.34 per kilogram rollback was implemented to align prices.

“These provinces (Bohol, Cebu) have been under a price freeze since November,” Petron said.

Petron, which holds more than 40 percent of the Philippine LPG market, likewise implemented a P4.27 per liter rollback for AutoLPG nationwide, except in Bohol and Cebu. In those two provinces, a P2.98 per liter decrease was implemented.

Isla LPG implemented a P5.85 per kg (excluding VAT) price cut for its Solane brand LPG from 12 noon on Jan. 1.

Petron acquired rival Chevron’s LPG business in 2007, increasing its market share to more than 40 percent.—Riza T. Olchondra

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