LPG prices up P1.50 per kilo due to hike in int’l contract cost

Oil companies supplying the majority of the liquefied petroleum gas (LPG) requirements of the country raised their prices yesterday by P1.50 per kilo, citing the increase in international contract prices.

Three of the country’s top LPG suppliers – Petron Corp., Pilipinas Shell Petroleum Corp. and Total Philippines Inc. – cited the need to adjust the price of their LPG products to reflect the price of LPG abroad.

“The international contract price for LPG is up by $130 per metric ton to $872.50 per metric ton (MT). This is equivalent to P5.60 per kilo increase in December based on foreign exchange rate average for November,” Petron said.

Total, on the other hand, said it will also raise the price of its auto LPG, used by the transport sector particularly taxicabs, by P1.50 per liter.

LPG contract prices have been on the rise for the past three months. From September’s $574 per MT, it increased to $657.50 per MT in October and $747.50 per MT in November.

Before the recent price adjustment, the price of LPG’s 11-kg cylinder stood at P536.50 to P594. – Donnabelle Gatdula