Petron Corp. announced yesterday a P1.60 per kilo increase in liquefied petroleum gas or LPG effective 12:01 am Nov. 1.
This translates to an increase of the P17.60 per 11-kilo LPG tank primarily used by households.
“This reflects the international contract price of LPG for the month of November,” the oil refiner said in its advisory.
LPG sells from P850 to P1,110 per 11-kilo tank, depending on the brand, retail outlet, location and market forces.
Meanwhile, Jetti Petroleum said that based on the first three days of trading in the global oil market and the foreign exchange average, gasoline may have a rollback of P0.45 to P0.65 per liter.
It said diesel may have a rollback of P0.10 per liter or increase of P0.10 per liter.
The price estimates are subject to change based on Thursday’s movement of prices in the world market.
Jetti Petroleum president Leo Bellas said world oil prices weakened due to the easing of Middle East tensions “but the risk remains high.”
“Prospect of tighter regional supply of diesel has put a floor on price while the downside of gasoline is limited as well due to some refinery outages in the region,” Bellas said.
