Liquefied petroleum gas (LPG) dealers will raise prices by 50 centavo per kilogram on Sunday, GMANews.TV learned.

“We're going to have a ‘price correction’ on Sunday from P429 to P435 or a 50-centavo per kilogram adjustment. I'm not going to use the term "price increase," said Arnel Ty, president of the LPG Marketers Association (LPGMA).

Ty noted that the contract price of LPG in the world market is on a steady rise, which the price adjustment would merely reflect.

He added that the current price of P429 for a regular 11-kilogram tank is lower than P470 set by oil companies.

LPG dealers also raised prices last June 3, when they implemented an 80-centavo per kilogram hike.-GMANews.TV