LPG prices may soar to P1,500 per tank in April — LPGMA

The price of an 11-kilogram liquefied petroleum gas (LPG) tank could reach as high as P1,500 in April, the LPG Marketers Association (LPGMA) warned on Thursday.

In a report by “24 Oras,” the group attributed the projected price hike to rising shipping costs caused by limited access to the Strait of Hormuz.

Currently, the price of an LPG tank in Metro Manila ranges from over P825 to more than P1,135, making the projected increase significant.

The LPGMA said the Department of Energy (DOE) has instructed the private sector to continue purchasing LPG regardless of cost to maintain supply.

Earlier, the DOE told the Senate that the country’s LPG stock would last only about 25 days.

But during an interview on “Balitanghali” Thursday, the group said the inventory has since been updated to last between 35 and 40 days.—Mariel Celine Serquiña/MCG, GMA Integrated News