LPG prices cut by P0.50/kg

Prices of liquefied petroleum gas (LPG) will again be slashed by P0.50 per kilogram, radio station dzBB reported Tuesday. LPG Marketers Association president Arnel Ty told dzBB that the price cut will take effect at midnight of Tuesday. It is the first price cut for the month of July since LPG dealers slashed prices three times in June. An 11-kg LPG cylinder at present costs about P482. "It's still the same (reason). At the onset of this month, contract prices continued to go down and we're hoping this continues)," Ty said in Filipino. He remained enthusiastic that this will not be the last of the price cuts for July saying in Filipino. "We think we still can (cut LPG prices)," Ty said. - GMANews.TV