Petron Corp. said it will implement a staggered increase in liquefied petroleum gas (LPG) to mitigate a P7.40 per kilo increase in cooking gas to consumers.
Petron is implementing the increase in two installments with P4 per kilo effective 12:01 am on October 1 and P3.40 per kilo effective 12:01 am on October 8.
Combined, this translates to P81 per kilo for an 11-kilo tank, one of the highest increases in LPG prices in the past years.
The oil firms traditionally adjust LPG prices every first day of the month compared to pump prices which are adjusted weekly.
Petron said it implemented the price adjustments to reflect the increase in the international contract price of LPG for the month of October.
This will be the fifth consecutive monthly LPG price increase since June.
LPG currently sells from P780 to P972 per 11-kilo tank based on the latest monitoring of the Department of Energy.
The company also implemented a staggered increase for auto LPG for a total P4.14 per liter.
Petron will raise its autoLPG by P2.24 per liter effective 12:01 am October 1 and P1.90 per liter effective 12:01 am October 8.
Other oil firms are expected to follow suit but have not made announcements as of presstime.