MANILA, Philippines – The price of liquefied petroleum gas (LPG) or cooking gas will increase by P3 per kilo or P33 per 11-kg cylinder effective today.
This developed as the Department of Energy (DOE) said that based on price trends, there might be a price reduction on pump prices of gasoline and diesel next week.
DOE director Zenaida Monsada said based on DOE monitoring, they expect a possible rollback of P1 per liter for diesel and gasoline.
Roberto Kanapi, Shell spokesman, confirmed DOE’s preliminary computation.
“We see a P1 per liter on average rollback next week, based on week-on-week prices in the region,” Kanapi said.
Arnel Ty, president of the LPG Marketers Association, told reporters that they would implement the LPG price hike because of the continued increase in LPG contract prices abroad.
“Because of the continued increase in contract price, we observed that some suppliers may be hoarding, so we just agreed to have an increase this month just to have a continuous supply of LPG,” he said.
Ty said they would probably increase prices again next month but it would be a smaller hike.
“We’re not sure yet if there will be an increase again for July. If there will be an increase, hopefully it will be smaller,” he said.
As of today, LPG contract prices have increased by $90 to $495 per metric ton (MT).
Iñigo Golingay, Liquigaz marketing manager, said they expect a P5 per kilo increase in LPG prices, which they would implement by July. Liquigaz is one of the largest suppliers of LPG in the country.
“Based on increase, we are seeing P5 per kilo increase. This will be based on $90 plus depreciation of the peso. It will be done on July 1, 12:01 a.m. But we may raise our prices twice,” Golingay said.