Oil companies raised the price of liquefied petroleum gas (LPG) or cooking gas by P3.50 to P3.55 per kilo, equivalent to P38.50 to P39.05 per 11-kilo tank to reflect the higher contract price of LPG in the world market.
Petron Corp., the country’s biggest oil company, announced the price increase effective Nov. 1 in an advisory.
“AutoLPG prices will likewise increase by P1.96 per liter at the same time. These reflect the international contract price of LPG for the month of November,” the company said.
Petron, however, said a price freeze would be observed in areas in a state of calamity.
Phoenix LPG Phils., Inc. and Solane LPG announced similar price increases effective Nov. 2.
An 11-kilo tank of LPG sells from P797 to P1,000 in Metro Manila, based on the monitoring of the Department of Energy.
On Tuesday, the oil firms cut pump prices by P0.60 per liter for diesel and P0.25 per liter for gasoline and kerosene to reflect the movement of prices in the world oil market.
This is the second consecutive week of oil price rollback driven by concerns of an economic slowdown from China due to rising COVID-19 cases and mobility restrictions.
