Petron Corp. will implement a P3.20 per kilo rollback (VAT-inclusive) or a total of P34.10 for an 11-kilo tank of liquefied petroleum gas or LPG effective 12:01 am, May 1.
“AutoLPG prices will likewise decrease by P1.80 per liter at the same time. These reflect the international contract price of LPG for the month of May,” Petron said in its advisory.
The oil firms also rolled back the price of LPG or cooking gas by P3.30 per kilo in April. LPG prices are adjusted once a month.
On April 27, the oil firms increased the price of kerosene by P0.65 per liter, P0.45 per liter for gasoline and P0.35 per liter for gasoline to reflect the movement of prices in the world oil market.
Oil companies adjust pump prices every Tuesday. This is the second consecutive week of oil price hike.
On April 20, the oil firms raised the price of gasoline by P0.60 per liter, diesel by P0.70 per liter and kerosene by P0.85 per liter.
These resulted to the year-to-date adjustments to stand at total net increase of P7.15 per liter for gasoline, P5.35 per liter for diesel and P4.30 per liter for kerosene.
World oil prices went up last week due to the weaking of the dollar and the revised higher global demand forecast from the Organization of the Petroleum Exporting Countries and the US International Energy Agency.