THE prices of liquefied petroleum gas (LPG) will increase by P3 per kilogram (kg) Saturday.

Arnel Ty, president of LPG Marketers Association (LPGMA), said they will implement a P3 per kilogram or P33 adjustment on the 11 kg LPG cylinder.

The price hike, Ty said, is basically due to “increase in contract price in the international market.”

He added that they also “observed that some suppliers may be hoarding the product's supply, so we just agreed to have an increase this month just so to have a continuous supply of LPG.”

Asked if they will implement another increase next month, Ty said: “We're not sure yet if there will be an increase again for July, if there will be an increase, hopefully it will be smaller.”

Earlier, Ty said the prices of LPG will increase by P3 to P4 per kg in July due to continued price increase in the international market.

LPGMA members are Omni Gas, Pinnacle Gas, Island Gas, Cat Gas, and Nation Gas.

Another LPG supplier, Liquigaz, has decided to hold any price movement until July 1.

"That's an increase of US$90 plus depreciation of the peso. We expect an increase of almost P5 per kg. We might do it in tranches," Liquigaz marketing manager Inigo Golingay said.

An 11-kg tank is presently sold at P432 to P530 per kg.

Meanwhile, oil companies may roll back their prices next week by P0.60 for diesel and gasoline.

According to Zenaida Monsada, director of the Oil Industry Management Bureau, the price rollback is computed based on the oil price trend in the international market. (MSN/Sunnex)