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Thursday, March 28, 2024

LPG price cut: P19.25 per 11-kilo tank

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Oil firms cut cooking gas or liquefied petroleum gas prices by P1.75 per kilo effective today (Sept. 1) to reflect the lower contract price of LPG in the world market.

This is equivalent to a rollback of P19.25 per 11-kilo tank used by most households.

“Petron will implement a P1.75 per kg rollback (VAT-inclusive) in LPG prices. AutoLPG prices will likewise rollback by P0.98/li at the same time. These reflect the international contract price of LPG for the month of September,” Petron Corp. said in its advisory.

Phoenix Petroleum Corp. cut LPG prices at the same level as Petron, while Solane LPG cut the price of its products by P1.62 per kilo (VAT exclusive). LPG sells at a range of P838 to P1,024 per 11-kilo cylinder in Metro Manila as of August 1, based on the monitoring of the Department of Energy.

On Tuesday, the country’s oil firms raised pump prices by P6.10 per liter for diesel and kerosene effective, one of the most significant increases implemented this year to reflect the surging world oil prices.

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The price of gasoline also increased by P1.40 per liter.

Monitoring by the Department of Energy showed diesel prices surged to $150 per barrel last week, up $14.43 from $135.60 per barrel the previous week. Kerosene prices also went up to $143.43 per barrel, up $14.04 from $129.40 per barrel.

Unleaded gasoline also increased to $109.73 per barrel, up $2.86 per barrel from $106.87 per barrel week-on-week.

Diesel prices in the National Capital Region range from P67.60 to P82.25 per liter, while kerosene sells from P73.44 to P85.35 per liter. Gasoline ranges from P65.50 to P83.20 per liter. Prices vary depending on the brand, location, and market forces.

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