Total cuts LPG price by P1 per kilogram

Total Philippines Inc. yesterday initiated another round of price increase for liquefied petroleum gas (LPG) or the cooking gas.

Total, one of the leading suppliers of LPG in the market, said the latest P1 per kilogram LPG price hike, which will be implemented today, is to partially reflect the P4.50 per kilo increase in contract price for December and January.

The other LPG suppliers — Petron Corp., Pilipinas Shell and Caltex Philippines — have yet to follow Total’s move.

Oil firms raised early this week the price of their LPG products by P1 per kilo due continuing rise in contract price of LPG in the international market.

Prior to the two consecutive LPG price adjustments, the price of LPG has not been adjusted since September last year.

The international contract price of LPG has increased to $527 per metric ton in December from $487 in January. — Donnabelle Gatdula