Retailers to cut LPG prices by P1/kg

ABS-CBN News

Posted at Jul 04 2011 12:21 PM | Updated as of Jul 04 2011 08:38 PM

MANILA, Philippines - Liquefied petroleum gas (LPG) retailers are set to implement another price rollback of P1 per kilogram, LPG Marketers Association president Arnel Ty said on Monday.

Ty noted the rollback is due to the continued decline of LPG contract prices in the world market. He did not say when the rollback would take effect.

Last week, small retailers cut LPG prices by 50 centavos or P6 per 11-kilogram tank. Major suppliers Pilipinas Shell, Petron and Total also reduced their prices by P2 per kilogram.

As of today, the contract price of LPG was down by as much as $61 per metric ton from June's level.