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Retailers of liquefied petroleum gas (LPG) hiked their prices over
the weekend because of delays in the shipment of supply.
The increase was initiated by the LPG Marketers
Association, which hiked their LPG products by P2 per kilogram.
The association’s president, Arnel Ty, said
the delay in the shipment of supplies was a result of an increase in
the volume of demand from LPG supplier Liquigaz Philippines Corp.
Liquigaz, the local subsidiary of SHV Gas of The
Netherlands, supplies about half of the independent LPG brands in
the Philippines, as well as a significant portion of auto-LPG retail
stations plus commercial and industrial businesses.
Should gas suppliers’ shipment arrive by
Thursday, the association may roll back their P2 per kilogram
adjustment, sources said.
The association members include Omni Gas,
Pinnacle Gas, Island Gas, Cat Gas and Nation Gas.
Other large petroleum firms Petron Corp.,
Pilipinas Shell Petroleum Corp. and Total (Philippine) Corp. did not
adjust their LPG prices.
The Department of Energy, meanwhile, said it is
planning to look into the reason for the shipment delay, adding that
it stands pat on its view that the petroleum companies should be
cutting their LPG prices because of lower contract prices abroad.
Data from the department showed that the average
contract price of LPG in the international market fell to $828 per
metric ton from a high of $936.50 per metric ton in July.
LPG prices started to drop following a similar
softening in world oil prices.
Prior to the association’s price increase, the
prevailing domestic price of an 11-kilogram cooking gas cylinder in
Metro Manila ranged from P588 to P646.50.
-- Euan Paulo C. Añonuevo
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