Petron Corp. said Thursday it is increasing its liquefied petroleum gas or cooking gas prices by P6.65 per kilogram, or P73.15 per 11-kg tank, effective today to reflect the higher contract price of LPG in the world market.
Petron said it will also increase the price of auto LPG by P3.70 per liter (VAT-inclusive) by 12:01 a.m. on Sept. 1.
The country’s lone refiner said in its advisory the price hikes reflect the international contract price of LPG for the month of September.
Other LPG retailers are also expected to adjust prices.
The price increase is higher than the forecasted P2 to P5 per kg by industry players last week. Sources concurred with the probable hike, which would translate to P22 to P55 per kg increase for every 11-kilo tank, used primarily by households.
LPG was sold at P718 to P935 per 11-kg tank in Metro Manila prior to the increase, government data showed.
Local oil firms adjust LPG prices every first day of the month and pump prices every Tuesday.
They raised the price of kerosene by P0.80 per liter, diesel by P0.70 per liter, and gasoline by P0.30 per liter effective 6 a.m. Tuesday, triggering the 8th consecutive week of increase for diesel and kerosene and the seventh consecutive week for gasoline.
Meanwhile, the Department of Energy’s Oil Industry Management Bureau recently completed the draft Philippine National Standards on the LPG dealer’s showroom and warehouse requirements to ensure compliance with safety practices.
The draft PNS provides for the minimum requirements for an LPG dealer’s showroom and warehouse to ensure safe and proper storage of LPG cylinders and canisters during retail operations.
For example, an LPG dealer’s facility may be a showroom, or a showroom and a warehouse. This showroom consists of the LPG display area, office space for business transactions, and stock area for LPG cylinders available for sale, and empty or returned cylinders/canisters.
Among the standards include open-air storage where LPG cylinders shall be kept in well-ventilated or open air and ground level.
The showroom shall have a maximum allowable cylinder per floor area and a maximum of two staking is allowed for 5 to 11-kilo cylinders.
The storage should also not be part of a theater, school, hotel, supermarket, or place of worship and its posts, walls, roofing, and trusses must be made of non-combustible materials.