Petron Corp. and Isla Petroleum cut the price of liquefied petroleum gas or LPG by P0.25 and P0.27 per kilogram, respectively effective April 1, 2025.
The companies issued separate advisories of the LPG price cut, equivalent to P2.75 and P2.97 per 11-kg tank.
“Petron will implement a P0.25 per kg (VAT-inclusive) rollback in LPG prices effective 12:01 AM April 1. This reflects the international contract price of LPG for the month of April,” Petron said.
An 11-kg LPG tank sells from P860 to P1,130 in Metro Manila based on the monitoring of the Department of Energy.
This followed the big-time oil price hike of P1.40 per liter for gasoline and P1.20 per liter for diesel and kerosene on Tuesday.
DOE Oil Industry Management Bureau (OIMB) director Rodela Romero said last week the higher pump prices was driven by the imposition of US sanctions on Iran, which could remove 1 million barrels per day (MMBD) from global supply; continuing attacks between Russia, Ukraine on energy installations; and the US threat of tariffs on nations buying Venezuelan crude oil.
Jetti Petroleum president Leo Bellas said the higher pump prices was driven by supply and trade war risks concerns.
Bellas said fresh sanctions on Iran and tariff threats on Venezuelan oil buyers could tighten supply thus pushing up prices.
He said the latest Organization of the Petroleum Exporting Countries and its allies’ (OPEC+) output plan that will require seven member nations to make further oil output cuts to compensate for their past overproduction, could overtake the production hikes the group plans to introduce next month.
He said another factor are signs of healthy demand in the US as crude and fuel inventories fell more than expected. Bellas said this overshadowed the adverse effects of wider trade war on the world’s economy and demand for oil.