Consumers will experience lower liquefied petroleum gas (LPG) prices of as much as P4.75 per kilo starting December 1 due to the lower contract price of LPG in the world market—equivalent to a price rollback of P52.25 per 11-kilo tank.
"Petron will implement a P4.75 /kg rollback (VAT-incl) in LPG prices effective 0001H December 1. AutoLPG prices will likewise rollback by P2.66 per liter at the same time. These reflect the international contract price of LPG for the month of December," Petron Corp. said in its advisory.
Isla LPG, which markets the Solane brand, also announced a price cut of P4.37 per kilo (VAT-inclusive) effective Wednesday.
LPG prices ranged from P884 to P1,017 per 11-kilo tank based on the latest monitoring of the Department of Energy.
The lower LPG prices followed the rollback in pump prices on November 30 of P1.10 per liter for gasoline, P0.60 per liter, and P0.50 per liter for kerosene to reflect the movement of prices in the world oil market.
These resulted in year-to-date adjustments to stand at a total net increase of P18.10 per liter for gasoline, P15.70 per liter for diesel, and P13.19 per liter for kerosene.
LPG and oil prices have been declining due to concerns of over renewed COVID spikes and COVID variants that could dampen demand.