Shell, dealers cut LPG price by 50¢/kilo

CEBU, Philippines -  Pilipinas Shell Petroleum Corp. and Petron Phils. will lower the price of liquefied petroleum gas (LPG) cooking gas by 50 centavos per kilo today.

On the other hand, the LPG Marketers Association (LPGMA) will adjust its prices to about the same level tomorrow.

Arnel Ty , LPGMA president, said they were not supposed to cut prices since they have already advanced what is due for March last month.

“We will adjust our prices to respond to competitive pressures,” he said.

“We rolled back our prices by P1.50 per kilo but the drop in LPG contract prices for the month of February was only supposed to result to 75 centavos per kilo reduction.”

Ty said the drop in LPG contract price from $735 per metric ton last February to $720 in March is equivalent to 75 centavos per kilo reduction in local LPG prices.

“But we have already reduced our prices by P1.50 per kilo,” he said. “That would have covered the reduction in contract prices for February and March.

“Since our competitors cut their prices, we have no choice but to reduce our prices too.”

The price of an 11-kilo LPG cylinder before the rollback was from P610 to P684.      – Donnabelle Gatdula