Published
By Myrna Velasco
The price of liquefied
petroleum gas (LPG) has increased by P1.25 per kilogram or P13.75 for the
standard 11-kilogram tank starting April 1.
According to industry
players, the increase in LPG prices is due to the uptrend in contract prices of
the commodity in the world market. AutoLPG for vehicles is also higher by P0.70
per liter.
As of press time, LPG
retailers which already hiked prices were Petron Corporation for its Gasul
brand, Isla Petroleum and Gas Corporation for Solane. The price adjustments
were effective 12:01 and 6:00am on Monday (April 1).
For LPG in Asian
markets, the pricing is anchored on the contract prices of Saudi Aramco, the
biggest oil producer globally. Saudi’s contract prices swing on a monthly basis
and that becomes the basis also of cost movements in many markets, including
the Philippines.
Meanwhile, petroleum
products at the pumps are on slight rollback this week – and this is still seen
as a relief to consumers especially with the rise in the cooking fuel.
The price of diesel had
been cut by P0.30 per liter, gasoline by P0.10 per liter, while kerosene prices
were reduced by P0.20 per liter, based on the pricing adjustment notices of the
oil companies.
As of press time, oil
firms that already sent notices on their price rollbacks include Pilipinas
Shell Petroleum, PTT Philippines and PetroGazz – all effective 6:00am on
Tuesday (April 2).
This price relief may
not last long though as trends toward the weekend-trading days in the world
market had been pointing to fresh round of price increases next week.
Swings in prices at the
Philippine pumps have been a weekly affair for the deregulated downstream oil
industry – often hinged on the movements of prices in the world market.
The Department of
Energy (DOE) has been ardently pushing for the itemization of the cost items
being passed on at the pumps, but this cannot seem to get past through the door
of the department due to string of opposition from the industry players.
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