Petron to roll back LPG prices

Petron Corporation on Sunday announced a rollback in prices of its liquefied petroleum gas (LPG) products to take effect this week.

In an advisory, Petron said it will reduce LPG prices by P3.90 per kilo starting 12:01 a.m. on Monday, March 2. AutoLPG prices will also be cut by P2.20 per liter at the same time.

"These reflect the international contract price of LPG for the month of March," said Petron.

According to its company profile, Petron supplies nearly 40% of the Philippines' total fuel requirements through the operation of its 180,000 barrel-per-day oil refinery in Bataan.

Its refinery processes crude oil into products such as gasoline, diesel, LPG, jet fuel, kerosene, and petrochemicals. — Jon Viktor D. Cabuenas/BM, GMA News