MANILA – Independent retailers of liquefied petroleum gas slashed product prices by P1 per kilo, at 12:01 a.m. yesterday.
LPG Marketers Association party-list Rep. Arnel Ty said the P1 rollback would translate into a P11-markdown per 11-kilo cylinder.
“This is an advance rollback, this is supposed to be for next month,” said Ty,
Ty attributed the continued price cuts to the downtrend in world contract prices of LPG.
He said their new suggested retail price would now be P584 per cylinder, which is still P60 to P80 cheaper than that of major brands.
The group earlier shed P1 for every kilo of their cooking gas products last June 5.
LPG/MA member-brands include Island Gas, Regasco Gas, Pinnacle Gas, Cat Gas, M-Gas, Omni Gas and Nation Gas.
On June 1, LPG players Petron Corp. (Gasul), Isla LPG (Solane, previous named Shellane), Total Philippines (Totalgaz), and bulk supplier Liquigaz shed as much as P5.50 per kilo from their respective prices.*PNA