Small oil players commit P1 rollback

MANILA, Philippines – Independent liquefied petroleum gas (LPG) retailers will implement another two-stage rollback in the prices of cooking gas this month.

In a forum at Serye in Quezon City, LPG Marketers Association (LPGMA) president Arnel Ty said a rollback of 50 centavos per kilogram would be implemented on July 19 and 26 as international contract prices continue to go down this month.

Last week, the group reduced the price of an 11-kilogram LPG tank by P6.

The coming rollbacks would mean another P6 in reduction of an 11-kilogram LPG cylinder or a retail price of P542 per tank.

He said big oil players such as Shell and Petron would likely be forced to reduce the prices of their LPG products because of their move.