Petron cuts LPG prices by P0.50/ kg

Petron Corp., the country's largest oil firm, imposed a P0.50 a kilogram reduction in its liquefied petroleum gas (LPG) prices shortly after retailers imposed a similar move, dzBB radio said Tuesday. Raffy Ledesma, spokesman for Petron, said the price cut for the firm's Gasul products will take effect 12 midnight of February 14. The radio report quoted Ledesma as saying that this was Petron's fifth price drop in recent weeks. The LPG Marketers Association (LPGMA) slashed product prices last midnight by P0.50 a kilogram. Arnel Ty, LPGMA president, said the new retail prices was brought about by lower LPG contract prices in the world market. - GMANews.TV