Isla LPG and Petron Corp. on Friday announced an increase in the price of liquefied petroleum gas or cooking gas to reflect the increase in the contract price of LPG for February.
Petron raised the price of its Gasul brand of LPG by P3.38 per kilo, while Isla LPG, which markets the Solane brand, increased its price by P3.41 per kilo effective Feb. 1.
Petron’s mark-up is equivalent to 42.68 per 11-kilo tank, while Isla LPG will rise by P37.18 per 11-kilo tank.
Oil firms adjust LPG prices monthly, compared to the weekly adjusted prices of gasoline, diesel and kerosene.
On Tuesday, the oil firms raised the prices of diesel by P0.55 per liter, gasoline by P0.20 per liter, and kerosene by P0.40 per liter to reflect the movement of world oil prices.
This is the fourth consecutive weekly oil price increase, triggered by the Venezuela supply unrest, which could curb local supply.
Year-to-date adjustments as monitored by the Department of Energy stand at a net increase of P1.20 per liter for gasoline, P1.05 per liter for kerosene, and P2.10 per liter for diesel.
Last week, Unioil Philippines forecast that diesel prices will likely go up by P0.50 to P0.60 per liter and gasoline by P0.20 per liter.
Last Jan. 15, the oil firms raised pump prices by P2.30 per liter for diesel, P1.40 per liter for gasoline, and P2 per liter for kerosene.
On Jan. 8, oil companies also raised prices by P0.80 per liter of gasoline, P0.70 per liter of diesel and P0.40 per liter of kerosene.