MANILA, Philippines — Prices of liquefied petroleum gas (LPG) products are increasing in the month of December. This is the third straight monthly increase for the product.
Petron, which dominates the country’s fuel market, said in an advisory that its Gasul-branded LPG product was priced higher by P2.80 per kilogram (VAT inclusive) at 6 a.m. Dec. 1, 2015. Petron also increased its autoLPG price by P1.57 per liter at the same time.
The Solane branded LPG had an upward price adjustment of P2.50 per kilogram (VAT exclusive) at a.m. on Dec. 1, 2015.
Eastern Petroleum, a minor oil player, has announced that its ECGas branded LPG will have a price hike by P2.80 per kilogram or P30.80 for an 11-kilogram cylinder at 6 a.m. on Wednesday (Dec. 2).
These adjustments reflect international LPG contract prices for the month of December, according to the oil firms cited.
Since January this year, LPG products have had a net decrease of P3.10 to P3.40 per kilogram to date.
Oil players adjust LPG product prices monthly. This year, LPG prices last went down in September, when players separately announced rollbacks in the range of P2.23 to P2.25 per kilogram.
Motor fuel prices, meanwhile, are announced weekly. It may be recalled that earlier this week, oil players announced price hikes of about 45 centavos per liter for gasoline, 10 centavos per liter for kerosene, and 20 centavos per liter for diesel starting Tuesday, December 1.
So far, gasoline prices have had a net increase of P0.21 per liter while diesel has had a net decrease of P3.26 per liter since January this year. SFM