Business Technology, Finance Technology & Information Technology
For the second month in a row, LPG prices are down.
Liquefied petroleum gas (LPG) retail prices have dropped for the second month in a row, with companies announcing price reductions for this month.
LPG rates have been lowered by PHP5.18 per kg at Phoenix LPG, PHP5.20 per kg at Petron, and PHP5.21 per kg at Solane LPG, according to the company.
For a typical 11-kg. LPG tank, which is often used by families, the new price rollback corresponds to a PHP56.98 to PHP57.31 reduction.
Price reductions for Phoenix LPG and Petron LPG were set at PHP2.86 per liter for Phoenix LPG and PHP3.30 per liter for Petron LPG.
The new prices went into effect at 12:01 a.m. on Wednesday.
The decreased LPG prices in June reflected the international market contract pricing for the month.
According to data from the Department of Energy, the LPG contract price fell by USD97 per metric ton in May, to USD857 per metric ton, down from USD954 per metric ton in April.
According to the department, an 11-kg cylinder of LPG cost PHP915.75 to PHP1,135.75 in Metro Manila in May.
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Disclaimer
This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.
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