MANILA, Philippines - Independent refillers will roll back prices of liquefied petroleum gas (LPG) by P1 per kilogram effective today.
Rep. Arnel Ty of the Liquefied Petroleum Gas Marketers’ Association (LPG-MA) said the rollback translates to P11 reduction per 11-kilogram tank of LPG.
“Due to the sustained drop in the international contract price of LPG, refillers reduced the prices of cooking gas,” said Ty.
From P650 to P655, the retail price of LPG is now down to a range of P635 to P640 per cylinder, according to Ty.
Independent refillers sell LPG at prices 12 to 18 percent lower compared to the prices of big oil companies.
Ty said the international contract price of LPG has dropped by around $90 per metric ton, prompting refillers to lower prices.
Meanwhile, Ty urged his colleagues in Congress to ensure the swift passage of the bill proposing to establish a one-time exchange program for the benefit of consumers possessing dilapidated LPG cylinders.
The House earlier passed the bill on second reading, upon the recommendation of the committee on trade and industry.