Cooking gas prices went up Tuesday ranging from P3.33 to P3.80 per kilo following upward movement of liquefied petroleum gas in the world market.
Petron Corp. and Solane issued their own respective price adjustments for LPG.
Petron increased LPG prices by P3.80 per kilogram while Solane raised its prices by P3.33 per kilogram.
Petron, meanwhile, said it also increased the price of auto LPG by P2.15 per liter to “reflect movements in the international LPG contract prices for November.”
The oil firms also raised the price of diesel and gasoline by P0.10 per liter effective November 1 to reflect the movement of prices in the world market.
Eastern Petroleum said it will hike diesel and gasoline prices by P0.10 per liter, 6 a.m. Tuesday.
Last October 25, the oil firms raised gasoline prices by P0.20 per liter but cut kerosene and diesel prices by P0.15 per liter and P0.10 per liter, respectively.
Oil prices have been inching up slowly in the past weeks in anticipation of the the Organization of the Petroleum Exporting Countries decision to cut production.
Opec is expected to announce its final decision on November 30. Analysts, however, are worried that non-Opec countries like Russia may not curb production, thus giving little incentive to Opec countries to cut back on production.
Analysts have varying forecast on how OPEC action will likely affect oil prices, with some expecting $60 by year-end and others seeing a return to $40.