Thursday, January 25, 2007 LPG dealers slash prices P0.50 per kg.
DEALERS of liquefied petroleum gas (LPG) on Monday announced a P0.50 per kilogram reduction in product prices while expressing optimism that more reductions would take place in the coming weeks.
Arnel Ty, president of LPG Marketers Association (LPGMA), told dzBB radio that the latest price adjustment will take effect on midnight.
"Contract prices in the world market have begun to drop. Our suppliers said the local price change should take effect next month but we (LPGMA) thought it was best to implement it right away to reduce prices at the soonest," Ty said.
He added that with the way the world market has been performing, LPG prices may fall up to an aggregate P3 a kilogram when February comes.
"This is just the initial rollback, consumers can expect additional rollbacks," Ty said.
Last week, local petroleum firms slashed gasoline and diesel prices by P0.50 a liter also due to falling world market prices. (PIA)
