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Reyes: LPG to go down by at least P15 per kg

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Friday, November 07, 2008
Reyes: LPG to go down by at least P15 per kg
By Anthony Bayarong

SUBIC BAY FREEPORT -- Department of Energy (DOE) Secretary Angelo Reyes on Thursday said the prices of liquefied petroleum gas (LPG) should go down by P15 to 17 per kilogram (kg) following the reduction of LPG prices in the world market.

Reyes revealed this during the inauguration of Petron's fuel additive blending plant here where President Gloria Macapagal-Arroyo was the guest of honor.

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"We will ask them if the prices of LPG are already reflected in the world market, as they have only lowered it to P4 per kg," Reyes said.

The DOE is also monitoring different parts of the country if rollback has been implemented.

Earlier this week, the LPG Marketers Association rolled back the prices of LPG products by P4 per kg or about P44 per 11-kg tank.

The Energy secretary said there was a reduction in the contract price of LPG by 39 percent in the world market.

Reyes also said consumers should also expect oil price cuts this month after the downturn of world oil prices.

For more Philippine news, visit Sun.Star Cagayan de Oro.

(November 7, 2008 issue)
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