Two more oil firms announced Friday they will raise the price of their liquefied petroleum gas (LPG) by about P7.36 per kilo this month to reflect the higher contract price of LPG in the world market.
Isla LPG, which markets the Solane brand, and Phoenix LPG Phils., Inc. which sells Phoenix Super LPG, implemented the price hike in two installments.
Isla LPG increased the price of Solane products by P4 per kilo effective 6:01am October 1. The second price hike on LPG of P3.36 per kilo will take effect at 6:01 a.m. October 8.
Phoenix LPG also raised its LPG products at 12:01 a.m. October 1 and also raised autoLPG prices by P2.25 per liter.
It will likewise increase LPG prices by P3.35 per kilo and autoLPG by P1.90 per liter effective 12:01 a.m. October 8.
LPG contract price went up by US$131.50 per metric ton in October to US$796.50 per MT from $665 per MT in September.
Petron Corp. also raised its LPG prices by P4 per kilo effective 12:01 a.m. on October 1 and is set to implement another P3.40 per-kilo increase effective 12:01 a.m. on October 8.
This translates to P81 per kilo for an 11-kilo tank, one of the highest increases in LPG prices in the past years.
This is the fifth consecutive monthly LPG price increase since June. The highest LPG price hike was implemented in July at P5.20 per kilo.