DoE: LPG prices in Cebu down by P2 per kg.

CEBU, Philippines - Prices of various liquefied petroleum gas (LPG) products in Cebu City went down, according to the latest monitoring report of the Department of Energy.

 Data as of September 10 from DoE-Visayas indicated that LPG dealers started to implement rollbacks on their cooking gas products.

 The price of an 11-kilogram Gasul decreased to P586 from P610 while an 11-kg Prycegas went down to P594 from P619.

 Moreover, a P24 reduction was noted in the prices of 11-kg Petronas (from P612 to P588) and Fiesta Gas (from P610 to P586).

 DoE said LPG prices of 11 kg and 50 kg cylinder was observed to have decreased at an average of P2.27 per kilogram.

 “Effectivity of the last adjustment was noted last September 5, 2015,” the data indicated.

 The DoE also said AUTO-LPG prices also decreased at an average of P1.50 per liter.

 Saul Gonzales, chief of DoE-Visayas’ Energy Industry Management Division, said one factor that influences the prices of LPG is the global supply and demand.

 Like oil, LPG is a globally traded commodity. International benchmarks are used to manage the buying and selling activities of the various nations that use LPG.

 If the demand is high, LPG supply tightens and that the benchmark price rises. While if the demand is low which could mean ample supply, the price decreases.  (FREEMAN)