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Oil companies slashed cooking gas prices for the third time this
month as contract prices for liquefied petroleum gas (LPG) in the
world market continue to soften.
Pilipinas Shell, Petron Corp. and Total
Philippines announced yesterday that they will implement a P1 per
kilogram decrease in the price of their cooking gas products
effective early morning today.
The rollback in their cooking gas prices will
redound to a reduction of about P11 in the price of their respective
11-kilogram LPG cylinders.
Data from the Department of Energy showed that
as of February 12, the average retail price of an 11-kg LPG tank at
dealers’ pick-up price was between P570 to P608.
Bobby Kanapi, Pilipinas Shell spokesman, said
that the reduction was in lieu of a decrease in contract prices for
LPG, which has been on a downtrend the past couple of weeks.
The oil firms twice rolled back cooking gas
products at the beginning of the month bringing their total
reduction in February to P2.50 per kg.
Smaller oil firms under the Liquefied Petroleum
Gas Marketers’ Association (LPGMA) have also reduced the price of
their cooking gas products by P1.50 per kilogram this month also
because of decreasing contract prices.
LPGMA, a group composed of LPG distributors
which operates primarily in Luzon, carries cooking gas brands such
as Omni Gas, Pinnacle Gas, Island Gas, Cat Gas and Nation Gas.
-- Euan Paulo C. Añonuevo
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