Without yet the effect of higher excise taxes, but consumers will have to brace for significant increases in their cooking fuel liquefied petroleum gas (LPG) at the start of the year to the tune of P7.00 to P8.00 per kilogram.
Based on advisories by some oil companies, the anticipated increase in LPG prices will be P77 to P88 for the standard 11-kilogram cylinder used by households for cooking – and that could be enough financial encumbrance to many Filipinos who will be busy at their kitchens preparing meals to celebrate the start of the decade.
LPG prices are anticipated to climb at the starting day of the month (January 1, 2020 to be exact) — and that will just be a day after petroleum products had also risen at the pumps.
For gasoline prices, it will shoot up by P0.85 per liter on December 31 at 6:00am; while diesel will be higher by P0.50 per liter; and P0.35 per liter for kerosene products.
As of press time, the oil companies that had already sent notices on price hikes had been: Pilipinas Shell Petroleum Corporation, Cleanfuel and PetroGazz; while the rest of the industry players are anticipated to follow.
The past weeks leading to the Christmas and New Year holiday celebrations had exhibited upswings in pump prices – which considerably had been inconveniently timed because this is also the month when most Filipinos incur highest level of spending. (Myrna M. Velasco)