Total follows suit, to slash LPG price by P4/kg

MANILA, Philippines – Matching the move of bigger oil firms, independent player Total Philippines Corp. on Tuesday afternoon announced it will reduce its liquefied petroleum gas (LPG) prices by P4 per kilogram. A GMA Flash Report said the rollback will take effect 12:01 a.m. Wednesday. Earlier in the day, Pilipinas Shell and Petron Corp. announced a P4 per kilogram price cut on its LPG products. Shell and Petron carry the LPG brands Shellane and Gasul, respectively. Shell and Petron’s LPG rollback is likewise effective 12:01 a.m. Wednesday. Representatives from the two oil companies made the announcement during a meeting with Energy Secretary Angelo Reyes and various stakeholders in the local oil industry. Earlier Tuesday, the Liquefied Petroleum Gas Marketers Association reduced its LPG prices by P1 per kilogram, citing the downward trend of LPG contract prices in the world market. - Sophia Dedace, GMANews.TV