MANILA, Philippines - Petron Corp. and Isla LPG slashed 50 centavos per kilo from the retail prices of their cooking gas effective Thursday.
The price cut took effect at 12:01 a.m. Thursday.
Petron said the adjustment covered its LPG products "Gasul" and "Fiesta Gas" while Isla LPG implemented the adjustment on "Solane."
Last year, Isla LPG bought “Shellane”, Pilipinas Shell’s LPG business, and renamed it as Solane.
Independent retailer group LPG Marketers Association (LPGMA) reduced its product prices by P2 per kilo or P22 per cylinder on New Year's Day.
With the latest adjustment, Gasul and Solane prices would now retail from P700 to P800 per tank while LPGMA-branded cylinders would now sell for P620 to P650 apiece.
LPGMA member brands include Island Gas, Regasco Gas, Pinnacle Gas, Cat Gas, M-Gas, Omni Gas and Nation Gas.