LPG prices rolled back by P3/kg

MANILA, Philippines - A group of independent refillers announced a P3-per-kilo rollback in prices of cooking gas effective yesterday.

The Liquefied Petroleum Gas Marketers’ Association (LPGMA) said the new suggested retail price for liquefied petroleum gas (LPG) is now P460 per 11-kilogram cylinder, down by P33.

LPGMA party-list Rep. Arnel Ty, a senior member of the House energy committee, said he projected that the prices of LPG and other petroleum products would likely stay down in the next few weeks or months.

“The downward pressure in LPG prices is still there, because global crude oil production continues to outpace consumption,” Ty said.

Meanwhile, the House of Representatives has high hopes that the Senate would soon pass the proposed Act Establishing the Regulatory Framework for the Safe Operations of the LPG Industry or Senate Bill 2897.

The House approved its version of the measure – House Bill 5617 – on third and final reading in August.

“We are grateful to our senators for their support. The last time we checked, SB 2897 is now pending approval on second reading, with Sens. Paolo Benigno Aquino IV, Loren Legarda, Jinggoy Estrada and Nancy Binay as authors,” Ty said.

He said besides protecting the interests and welfare of consumers, the proposed new law mandates rigorous standards meant to ensure the harmless importation, refining, storage, refilling, distribution, transportation and consumption of the cooking fuel.

Moreover, the measure regulates the manufacture, requalification, exchange, swapping or improvement of LPG cylinders and provides adequate strategies to guarantee that every tank coming out of a refilling plant has gone through security checks.

“Once enacted, the measure will go a long way in preventing the unnecessary loss of lives and property due to accidental LPG explosions in residential, commercial and industrial settings,” Ty said.

The Bureau of Fire Protection has ranked LPG flare-ups as a leading cause of fires.