Caltex rolls back kerosene price

Caltex Philippines Inc. rolled back yesterday the price of its kerosene by 10 centavos per liter, three days after raising it by 49 centavos.

Meanwhile, Shell external affairs manager Robert Kanapi said they are considering another increase in the price of liquefied petroleum gas (LPG) before the end of the current month due to the continuing rise in the LPG contract price in the international market.

"We are looking at another adjustment in LPG prices towards the end of the month," Kanapi said, although he declined to cite any specific figures.

He said the LPG contract price in the world market as of September has already increased by about $25 to $28 per metric ton (MT). For the month of August, the price of LPG in the international market went up by $34 per MT.

The "Big 3" oil firms increased LPG prices by 80 centavos per kilogram or P8.80 for every 11-kg cylinder late last month.

New Petroleum Players Association of the Philippines (NPPAP) president Fernando Martinez said the recent LPG increase made by the oil majors did not corresponds the rise in LPG contract price in the international market.

"The price adjustment should have been P1.20 but the oil majors increased by only 80 centavos. I think, we should adjust more," Martinez said.