Petron Corporation increased the prices of its liquefied petroleum gas (LPG) products effective 12:01 a.m. Monday.
In a text advisory to Philippines News Agency, Petron increased by P14.30 per kilogram its LPG products inclusive of value added tax (VAT).
This is a P157.30-increase in the retail price of the regular 11-kilogram LPG tank of Gasul and Fiesta Gas.
The LPG price hike will also be implemented in two tranches in calamity-stricken areas including Aklan, Bohol, Leyte and Samar.
“The prices in these areas will increase P8.00 per kilogram (VAT inclusive) on December 2 and the balance of P6.30 per kilogram (VAT inclusive) on December 15,” the oil company said.
Petron added that prices of Xtend autoLPG also climbed by P7.99 per liter inclusive of VAT.
Petron explained that the LPG price hike is due to movement of LPG international contract prices for the month of December.
Unlike other petroleum products such as diesel and gasoline, LPG prices are moved only once a month, depending on the international contract price for a particular month.
Meanwhile, Total Corporation has announced the increase in its liquefied petroleum gas (LPG) cylinder products effective 6:00 a.m. Monday.
In a text message, Total imposed a P13.00-increase per kilogram of LPG cylinder products exclusive of value added tax.
This brings an additional of more than P143 in retail price of regular 11-kilogram household LPG cylinder.
The two oil companies said the LPG price adjustment was brought by movement of LPG international contract prices. PNA