Price cut in LPG tanks bared

COOKING gas retailers will impose 50 centavos per kilogram rollback on prices of Liquefied Petroleum Gas (LPG) starting 12:01 a.m. Tuesday.

Arnel Ty, president of the Liquefied Petroleum Gas Marketers Association (LPGMA), said the move was to reflect the continuing downward trend of world market prices.

“We expect contract prices to post a big reduction this March, about $30,” he said over radio interview.

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Ty earlier said that they did not raise prices as world contract prices tend to go down following the Christmas season. The group previously had rollbacks last February 2 and another two in January.

For that matter, an ordinary 11-kilogram LPG tank that costs about P592 would be reduced to P586.

Consumers may also expect further reductions on LPG prices within the month.

“I think we will see another 50 centavo per kilogram cut next week and the week after,” Ty said.

LPGMA members composed of wholesalers, refillers and retailers, which corner a third of the Luzon market. Its members include Omni Gas, Pinnacle Gas, Island Gas, Cat Gas and Nation Gas.

For major oil players, Petron Corp. public affairs officer Rafael Ledesma told Sun.Star that the “company has yet to issue a statement” on the matter.

Sun.Star also tried to contact Shell and Chevron for comment but to no avail.

As of posting time Monday, other oil firms and LPG dealers have yet to announce whether they would match the LPGMA move. (Virgil Lopez/Sunnex)