LPG prices see P3 drop per kilogram

A P3 rollback per kilogram of LPG or cooking gas was announced as of 7 a.m. on Friday morning.

According to a "24 Oras" report on Friday, the amount was equivalent to a P33 reduction for every 11-kilogram LPG tank.

LPG Marketers Association founder Arnel Ty had said that the rollback was due to the lowered shipping and transport costs.

Depending on the future prices of oil in the market, further rollbacks are possible in the coming weeks.

An initial rollback on LPG prices was declared due to the removal of the excise tax.

On Friday, President Ferdinand Marcos Jr. also released an executive order to suspend excise taxes on LPG and kerosene for the next three months. —Jiselle Anne C. Casucian/LDF, GMA News