Three oil companies have lowered the price of liquefied petroleum gas, saying the adjustment reflects movements in the international contract prices of LPG for the month of March.
The downtrend in the international contract prices for LPG led to price rollback of about P4 for an 11-kilogram LPG cylinder.
Petron implemented a P0.35 per kilogram cut in its Gasul and Fiesta prices at 12:01 a.m. of March 1.
The company also decreased the price of Xtend autoLPG by P0.20 per liter also at 12:01 a.m. of March 1.
Solane reduced by P0.32 per kilogram the LPG price, VAT exclusive effective 6 a.m. of March 1.
Eastern Petroleum will slash the price of EC Gas LPG by P0.35 per kilogram or P3.85 for an 11-kilogram cylinder at 6 a.m. of March 2.
Department of Energy (DoE) Secretary Alfonso Cusi on Wednesday explained that based on Oil Industry Management Bureau (DOE-OIMB) international price monitoring, the contract price for March amounts to $564 per metric ton (MT), which is $9 lower than the contract price in February of $573 per MT.
He said the rollback of $9 per MT translated to a P0.36 price cut per kilogram, hence a possible P4 reduction per 11-kilogram LPG cylinder.
Meanwhile, Cusi urged consumers to always check every LPG cylinder to ensure that it is of the right quantity and quality.
“Aside from determining the right price, I encourage the public to also look closely at the quantity of the LPG cylinder by assuring that it is the correct and accurate weight. The quality of the tank should also be taken into consideration especially if it poses certain safety risks,” he said.
To know if your LPG-filled cylinder is of the right quality and safe to use, the DOE has issued the following guidelines:
• Buy LPG cylinders with proper markings (brand name, tare weight, etc.) from authorized outlets only.
• Check the LPG cylinder for excessive rustiness and dents.
• Ensure that the collar and foot ring are smooth and properly welded.
• Ensure that the LPG seal is intact and firmly affixed to the valve.
Cusi also asked the public to take extra precautions especially since March is Fire Prevention Month.
“We encourage the public to regularly check if there is a leak in their LPG cylinder, to store it in areas with sufficient ventilation, to keep it away from electrical switches and outlets and to ensure that it is always in an upright position,” he said.