Monday, 08 August 2011 14:37
The price of cooking gas went up by P1 per kilo or P11 per 11-kilogram tank over the weekend due to the higher contract prices of liquefied petroleum gas (LPG) in the world market.
LPG contract price for August went up to US$ 870 per metric ton from US$ 843 per MT in July, according to the Department of Energy.
Pilipinas Shell Petroleum Corp. was the first to announce the price increase at 12:01 a.m. Friday followed by Petron Corp. at 6 a.m. Friday while Total Philippines raised prices 6 a.m. Saturday.
Arnel Ty, president of the LPG Marketers Association, said they have not raised prices as of presstime.
LPGMA sells LPG through its members which include Omni Gas, Pinnacle Gas, Island Gas, Cat Gas and Nation Gas.
Petron, Total and Shell reduced LPG prices by P2 per kilo in July when the LPG contract price went down by about US$ 61 per metric ton from the previous month.
Prior to the increase, LPG sells at P655 to P733 depending on the brand, location and market forces. (PNA)
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