LPG to increase by P3 per kilogram or P33 per 11kg cylinder tomorrow

June 26, 2009 8:05 am 

MANILA, June 26 — Prices of liquefied petroleum gas (LPG) will increase by P3 per kilogram tomorrow.

Arnel Ty, president of LPG Marketers Association (LPGMA) said effective tomorrow morning they will implement a P3 per kilogram or P33 adjustment in the 11 kg LPG cylinder.

”We will implement P3 increase per kg [increase] tomorrow morning” Ty said.

Ty said the price hike is basically due to “increase in contract price in the international market.

He added that they also “observed that some suppliers may be hoarding the product's supply, so we just agreed to have an increase this month just so to have a continuous supply of LPG.”

Asked if they will implement another increase next month, Ty said “we're not sure yet if there will be an increase again for July, if there will be an increase, hopefully it will be smaller.”

Earlier, Ty said the prices of LPG will increase by P3 to P4 per kg in July due to continued price increase in the international market

Ty said LPG prices increased by US$ 90 from US$ 437 per metric ton in June.

LPGMA members are Omni Gas, Pinnacle Gas, Island Gas, Cat Gas and Nation Gas.

On the other hand, Liquigaz, another LPG supplier, has decided to hold any price movement until July 1.

"That's an increase of US$ 90 plus depreciation of the peso. We expect an increase of almost P5 per kg. We might do it in tranches," Inigo Golingay, Liquigaz marketing manager said.

An 11-kg tank is presently sold at P432 to P530 per kg.

Meanwhile, oil companies may rollback oil prices next week by P0.60 to P1 per liter for diesel and gasoline, Zenaida Monsada, director of the Oil Industry Management Bureau told reporters.

According to Monsada the price rollback is computed based the oil price trend in the international market.

Roberto Kanapi, Pilipinas Shell spokesman confirmed the possible rollback due to the week-on-week decline in world oil prices, estimating that the price cut would be "around P1 per liter on the average."

Unleaded gasoline is presently sold at P36.25 to P43.97 per liter and diesel at P27.65 to P34.53 per liter. (PNA)

/V3/MSN/

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