Oil companies will increase the price of cooking gas or liquefied petroleum gas (LPG) by P0.45 to P0.50 per kilo per kilo effective today, Nov. 1.
This translate to a P4.95 to P5.50 price hike for an 11-kilo tank used by households.
LPG Marketers Association president Arnel Ty said the contract price of LPG went up by about $7 per metric ton to $616 per MT for November.
“That’s P0.50 per kg. up,” Ty said.
LPG prices ranged from P882 to P1,059 per 11-kilo tank in the National Capital Region prior to the increase.
This developed after oil firms cut the price of diesel by P1.25 per liter liter but raised the price of gasoline and kerosene by P0.45 per liter and P1.20 per liter, respectively, on Tuesday.
Petron captured the biggest market share for LPG as of the first half, according to the Department of Energy.
Petron had a market share of 23.66 percent followed by Liquigaz at 19.14 percent, South Pacific at 15.97 percent, Pryce Gases at 15.57 percent and Isla Gas at 12.91 percent.