MANILA, Philippines (UPDATE) - Good news for consumers: the price of cooking gas will drop by P5 to P5.50 per kilo tomorrow (June 1).
Major wholesaler Liquigaz announced it will cut prices by P5.50/kilo or P60.50 for an 11-kilo cylinder tank effective 12:01 a.m. June 1.
Liquigaz vice president Jun Golingay said the weaker demand in LPG caused the big drop in contract prices which amounts to around $130/metric ton.
Golingay said this is expected to happen again in July, but the reduction may be lower than the previous months.
At the same time, Petron said it will slash prices of LPG by P5.50/kilo and autoLPG by P3.45/liter, effective 12:01 a.m. June 1, to reflect lower international contract prices.
Total is also rolling back prices of its LPG cylinder products by P5/kilo, effective at 6 a.m. June 1.
Isla LPG also said the price of Solane LPG is being reduced by P5/kilo at 12:01 a.m., June 1.