LPG dealers cut back price by 50 centavos per kg

Liquefied petroleum gas (LPG) from the LPG Marketers Association (LPGMA) will be cheaper by P6 starting midnight Thursday, radio dzBB reported. Arnel Ty, LPGMA president, told the radio station that the group will reduce 50 centavos per kilogram of an 11-kg cylinder. This means that an LPG tank will now cost P472 from P478, Ty said. Ty said lower LPG contract price and the strong peso prompted the price reduction. He urged major oil players to follow suit as he revealed that consumer can expect more price reductions in the coming weeks. Ty said the crisis sparked by the nuclear test by North Korea could affect LPG prices. He assured that if world oil price would go up in reaction to the crisis, the LPG price adjustment would be gradual. - GMANews.Tv