The oil distributors rolled back the price of cooking gas by P0.20 per kilo, equivalent to P2.20 per 11-kilogram tank, to reflect the slightly lower contract price of liquefied petroleum gas in the world market.
Petron Corp. and Phoenix LPG Philippines Inc. announced their price cuts that took effect at 12:01 a.m. on May 1. They also cut the price of autoLPG by P0.10 per liter.
“Petron will implement a P0.20 per kilo rollback in LPG prices effective 12:01 a.m., May 1,” Petron said.
“AutoLPG prices will likewise decrease by P0.10 per liter at the same time. These reflect the international contract price of LPG for the month of May.”
Before the price cut, LPG was selling for P615 to P800 per 11-kg tank in Metro Manila.
The move came after the oil firms raised pump prices by as much as P0.90 per liter on April 30, setting off the fourth consecutive weekly oil price increase.
The oil firms implemented an oil price increase of P0.90 per liter of kerosene and P0.75 per liter of gasoline.
Pilipinas Shell Petroleum Corp., Chevron Philippines, Seaoil Philippines, PetroGazz, Eastern Petroleum Philippines and PTT Philippines issued separate advisories of the increase while other oil companies also raised prices.
READ: Still no end to oil price hike in sight
READ: Double whammy on consumers: Power rate, oil price hikes
