Though the price of liquefied petroleum gas (LPG) increased by P2.00-P3.85 this month, a group of LPG marketers is saying that consumers can expect its price to get lower next month.
According to the LPG Marketers’ Association (LPGMA) Party-List Representative Arnel Ty, the prices of fuel will go down because of the summer season.
Starting February 1, the price of an 11-kilogram LPG tank rose from P550-P620 to P630-P700. The increase was a result of a fuel price hike in the world market.
Another factor that contributed to the increase on the price of LPG is the combined value-added tax and the Tax Reform for Acceleration and Inclusion Law amounting to P9 per kilo.
Eateries and restaurants who heavily rely on LPG have to cut down on the serving size of their food offerings to bear the burden of the price increase.
Fuel price roll back
Meanwhile, several gas companies have announced that they are set to lower the prices of some of their fuel products.
SEAOIL and Petro Gazz will slash off P 0.35 per liter of diesel and P 0.65 per liter of gasoline starting 6:00 in the morning of Monday, February 4. SEAOIL will also implement a P 0.60 price decrease per liter of kerosene.
Shell, on the other hand, will be implementing a price cut-off of P 0.60 per liter of gasoline. P 0.35 per liter of diesel, and P 0.20 per liter of kerosene which will start at 6:00 in the morning of Tuesday, February 5.
Phoenix Petroleum has started cutting off P 0.65 per liter of gasoline and P 0.35 per liter of diesel.
Unioil’s forecast for the week of February 5 to 10 says that prices per liter of diesel will be going down by P 0.30 to P 0.40 and gasoline by P 0.60 to P 0.70.
Jetti will also cut down on the prices of diesel by P 0.35 to P 0.40 per liter and P 0.65 to P 0.70 per liter of gasoline.
The rollback is a welcome change after four successive weeks of the oil price hike.