Prices of LPG expected to rise by P50

By RG Cruz, ABS-CBN News

Posted at Jan 02 2012 04:09 PM | Updated as of Jan 03 2012 03:49 PM

MANILA, Philippines - Prices of liquefied petroleum gas (LPG) is set to increase by almost P50 soon.

LPG Marketers Association Party-List Rep. Arnel Ty confirmed to ABS-CBN News that LPG prices will increase by  almost P50 per 11-kg cylinder soon.

This after oil companies bared plans today to increase by P3 per kilo LPG due to higher world contract price of LPG.

Ty said he was informed that after this P3 increase, an additional P1.50 will be implemented before the end of the month.

Ty expressed hope the energy department can prevail upon the oil companies to stagger the implementation by P1 a week.

According to the party-list representative, the increase was spurred by an $82 per metric ton increase in the contract price of LPG which took effect before the end of the year.

"Sabi ko nga, itong buwan ng January hindi ito normal. Its a new year. Mga mamamayan walang ganung pera, nagastos na ng holidays pag sinalubong ng price increases," Ty said.

Aling Josie, a hawker in Malabon, couldn't help but feel stressed over the looming increase.

She noted an increase would hurt her profits, since she consumes one LPG tank for every 7 days.  She hopes the fuel companies can help mitigate their plight, but seems resigned to the fact that her appeals might fall on deaf ears.

For his part, Ty hopes the Department of Energy can act on his request to help mitigate the price increase.