LPG dealers cut prices by P1/kilo

Independent dealers of liquefied petroleum gas (LPG) rolled back prices of their products by P1 per kilo or P11 per 11-kg tank effective 12:01 a.m. Wednesday.

 

The LPG Marketers Association said the price drop will reflect adjustments in the world contract prices of LPG, radio dzBB reported.

 

Wednesday’s development was the latest in a series of price rollbacks that gave consumers, drivers, and commuters relief from prices of petroleum products.

 

Fuel firms had rolled back prices of their products in the past weeks to reflect the dropping prices of oil in the world market.

 

This in turn prompted the Land Transportation Franchising and Regulatory Board to bring down the minimum fare for passenger jeeps by 50 centavos on Tuesday. In Metro Manila, this brought down minimum jeep fares to P8 from P8.50.

 

On the other hand, LPGMA party list Rep. Arnel Ty had hinted last April 29 at more price rollbacks due to the lower world prices of the commodity.

 

In April, LPGMA members had also rolled back prices of their products several times. –KG, GMA News