THE oil companies have raised the price of cooking gas by P2.74 per kilogram or P30 per 11-kilogram tank to reflect the higher contract prices of liquefied petroleum gas in the world market.
Petron Corp. raised its price on Sept. 1 and Eastern Petroleum on Sept. 3.
Petron said it implemented a VAT-inclusive, P2.74-per-kilo increase in the price of its LPG and Eastern Petroleum raised its LPG price to P2.73 per kilo.
“We will increase auto LPG by P1.53 per liter at the same time. These reflect the international contract prices of LPG for the month of September,” Petron said.
The oil firms increased their pump prices by P0.35 per liter of gasoline and P0.20 per liter of diesel and kerosene on Aug. 29.
And on Aug. 22 they also raised the price of gasoline by P0.20 per liter but rolled back the price of diesel and kerosene by P0.10 per liter and P0.15 per liter, respectively.
Crude oil prices went up last week after official figures showed a larger-than-expected fall in US crude stocks, the Energy Department said in its latest monitoring report.
Asian gasoline prices stayed elevated on tight supply and on the relatively good demand in Asia and the Middle East.