Shell cuts cooking gas price by P1.20/ kg

MANILA, Philippines -  Pilipinas Shell Petroleum Corp. (Pilipinas Shell) has reduced the price of its liquefied petroleum gas (LPG) product by P1.20 per kilogram (kg), or by P13.20 per 11-kilogram cylinder. No price adjustments were, however, made for auto LPG.

Thus Shellane, the LPG brand of Pilipinas Shell, will cost between P717 to P744 per 11-kilogram cylinder.

Petron Corp., Liquigaz and Total Gas have not issued any formal advisories but hinted that they may not be too far from the Shellane price range.

Meanwhile, the LPG Marketers Association of the Philippines (LPGMA) said that its members would likewise reduce prices of LPG. However, they refused to give further details until they get the final contract price from the Asian market.

Based on available data, LPG contract price in July was $843 per metric ton (MT). It rose to $870 per MT in August.

Curiously, the Mean of Platts Singapore (MOPS) indicated that the price of gasoline in the region rose from $122 per barrel on Aug. 22 to $126 per barrel on Aug.29.

The price of diesel meanwhile rose from $122 per barrel on Aug. 22 to $126 per barrel on Aug. 29.