By MYRNA VELASCO
Households will need to tighten their financial belts anew this month as the price of liquefied petroleum gas (LPG) that is generally used for home cooking, will be up by P30 for the standard cylinder or at P2.73-P2.74 per kilo.
As of press time, the LPG industry players that already advised on price adjustments include Petron Corporation and EC Gas of Eastern Petroleum Corporation. The others are expected to follow.
Petron’s LPG price increase was at P2.74 per kilogram, inclusive of value added tax (VAT) charges; while Eastern Petroleum had it at P2.73 per kg.
The 11-kilogram tank is the typical size used by households; while some establishments often require the larger LPG cylinders or even piped systems.
For Petron, it also hiked the price of its auto LPG for vehicles by P1.53 per liter, effective 12:01 on September 1 (Friday).
“These reflect the international contract prices of LPG for the month of September,” the country’s leading oil firm has emphasized in its statement to the media.
Last month, Saudi Aramco, which sets the benchmark price for Asian-traded LPG, had jacked up its propane contract prices to US$420 per tonne, an increase from $345/tonne in July.
For the Philippines, it generally follows international price trends as this country is basically an oil import-dependent market.
