Retailers' group to raise LPG prices by P7/kg on August 1

Consumers may have to brace for a whammy on August 1, when independent dealers of liquefied petroleum gas implement a big-time price hike. The LPG Marketers Association (LPGMA) will raise prices by P7 per kilo or P77 per 11-kg tank, according to a report by radio dzBB's Rowena Salvacion. LPGMA party list Rep. Arnel Ty was quoted in the report as saying this was due to the world contract prices of LPG, which went up to $753 per metric ton from $606. Last Wednesday, Ty said the international market price of LPG went up by $150 per metric ton. He said this may translate to a hike of P7 per kilo – a big burden on consumers who are already affected by weekly price hikes in fuel products. — LBG, GMA News