Petron Corp. and Isla LPG on Wednesday announced a price hike in cooking gas or liquefied petroleum gas (LPG) by P2.25 to P2.27 per kilo, or P24.75 to P24.97 per 11-kilo tank, effective today.
“Petron will implement a P2.25 per kg increase (VAT-inclusive) in LPG prices effective 0001H Dec. 1,” the oil firm said in its advisory.
It said AutoLPG prices would likewise increase by P1.26 per liter.
“These reflect the international contract price of LPG for the month of December,” Petron said.
Isla LPG said its Solane-branded cooking gas price is also rising by P2.27 per kg VAT inclusive, effective Dec. 1 at 6 a.m.
LPG sells from P797 to P1,000 per 11-kilo tank based on the monitoring of the Department of Energy (DOE).
On Tuesday, oil firms cut the price of diesel by P3.95 per liter, gasoline by P0.85 per liter, and kerosene by P2.65 per liter.
Rodela Romero, DOE director for the Oil Industry Management Bureau, attributed the price rollback to the COVID-19 surge in mainland China, the increase in the fuel inventory data of the US, and the higher price cap for Russian crude by the European Union.
On Nov. 22, oil companies cut prices per liter of gasoline by P0.40, diesel by P2.15, and kerosene by P2.10.
This resulted in the total year-to-date adjustments at a net increase of P17.75/liter for gasoline, P33.85/liter for diesel, and P27.85/liter for kerosene.