MANILA, Philippines - Petron Corp. will roll back prices of liquefied petroleum gas (LPG) for cooking and for cars starting today.
The country’s biggest oil refiner announced that it would cut Gasul and Fiesta Gas prices by P5.50 per kilogram.
“We will likewise decrease Xtend AutoLPG by P3.44 per liter at the same time. These reflect the drop in international contract prices of LPG for January,” Petron announced.
The price of LPG ranges from P570 to P711 for an 11-kilogram cylinder while the price of auto LPG ranges from P25.04 to P28.30 per liter.
As of this writing, other LPG players have yet to issue similar announcements.
The rollback in the prices of LPG came on the heels of a hike in local petroleum prices last Dec. 30 that ended the series of oil price cuts at least 26 times in 2014.
Petroleum players at the time increased gasoline prices by P0.30 per liter and kerosene prices by P0.10 per liter but kept diesel prices unchanged.