Petron rolls back LPG prices Wed­nes­day

Sun Star Bacolod - - Business -

THE coun­try’s big­gest oil company rolled back the price of its Liq­ue­fied Petroleum Gas (LPG) prod­ucts on Wed­nes­day, La­bor Day, one day af­ter prices of liq­uid fu­els went up mod­er­ately.

In an ad­vi­sory, Petron Cor­po­ra­tion an­nounced a PHP0.20 per kilo de­crease in LPG, which trans­lates into a PHP2.20 re­duc­tion in ev­ery 11-kilo­gram tank of Petron Ga­sul.

The company like­wise re­duced the price of its AU­TOLPG, which is al­most ex­clu­sively used by the taxi cab in­dus­try, by PHP0.10 cen­tavos per liter.

Other com­pa­nies sup­ply­ing LPG are ex­pected to have made the same roll back in prices at around the same time.

In its ad­vi­sory, Petron’s man­age­ment said the price re­duc­tion sim­ply “re­flected the in­ter­na­tional con­tract price of LPG for the month of May.”

It was ex­plained that LPG is traded separately in the world mar­ket from liq­uid fu­els such as gaso­line and diesel. For this rea­son, it is not sur­pris­ing that LPG prices are soft­en­ing while gaso­line and diesel prices are on their way up./ PNA

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