A huge price hike for liquefied petroleum gas – as much as P7 per kilo – looms in August, independent dealers of the commodity said Wednesday.

But the LPG Marketers Association (LPGMA) also voiced fears big oil firms may have started creating an artificial shortage at this time so they can raise prices early.

"Sa kasalukuyan ang international market price, umangat ng $150 per metric ton. Ang equivalent niyan halos P7 bawa't kilo sa ating local price," LPGMA party list Rep. Arnel Ty said in an interview on dzBB radio.

He said his group already asked the Department of Energy to investigate a possible artificial shortage by big oil companies.

The LPGMA's members usually get their LPG supplies from the major oil companies.

According to Ty, his group found it suspicious that the major oil firms claimed a "miscalculation" of their supplies caused a supply shortage in LPG.

He noted the DOE's policy is to have at least one week's stock of LPG.

"Yan ang duda namin, talagang sinadya nilang magkaroon ng tightness o kakulangan ng produkto sa ating bansa dahil sa gusto nila maipatupad mas maaga ang pagtaas ng presyo
[na dapat] sa august pa ang pagtaas," he said.

Ty said they started feeling the supply shortage as early as Friday last week.

If they are not satisfied with the DOE's findings, he said that is the time he will seek a congressional investigation.

Ty said the DOE has formed two teams to monitor the terminals of big oil companies and conduct an inventory of their products.

"Kung hindi kami kuntento sa findings that's the time papatawag kami ng congressional inquiry. Sa Friday malalaman ang situation ng inventory," he said. — LBG, GMA News