A ROLLBACK on prices of liquefied petroleum gas (LPG) welcomed households on Saturday, November 1.
In an advisory on October 31, Petron Corp. announced to implement a P0.50 per kilogram price reduction on its household LPG, effective 12:01 a.m. on Saturday.
Petron’s price rollback translates to a decrease of P5.50 for a typical 11-kilogram LPG tank.
“This reflects the international contract price of LPG for November,” the company said.
Solane, likewise, announced the decrease on its LPG price by P0.45 per kilogram or about P4.95 reduction in the price of its 11-kilogram LPG cylinder.
Its price adjustment took effect at 6 a.m. on the same day.
Meanwhile, motorists should buckle up for another round of increase in pump prices to be implemented by fuel retailers this week.
“Based on the four-day trading in MOPS, without yet the cost of doing business by the oil companies and other premiums, we will be expecting an increase in the prices of petroleum products by next week,” Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said.
The following are the estimated increase in fuel prices:
* gasoline – more or less increase of P1.20 per liter
* diesel – more or less increase of P2.15 per liter
* kerosene – more or less increase of P1.75 per liter
The Energy official cited the “signs of easing US-China trade tensions that will boost demand” and “UK, US and EU sanctions to Russia” as reasons for the anticipated fuel price adjustments.
Oil companies announce official price adjustments every Monday, which take effect the following day.
Effective October 28, fuel firms hiked the prices per liter of gasoline by P1.20, diesel by P2, and kerosene by P1.70. (GMA Integrated News)
