Petron joins Shell in slashing LPG prices

MANILA, Philippines – Major oil player Petron Corp. on Tuesday said it will roll back the prices of its liquefied petroleum gas (LPG) products on Wednesday. Petron public affairs officer Rafael Ledesma said the P0.40 per kilogram reduction on Fiesta Gas and Petron Gasul would be effective 12:01 a.m. Wednesday. Ledesma said the move was to reflect the continuing downward trend of LPG contract prices in the international market for the month of May. Pilipinas Shell on Tuesday slashed its LPG prices by the same amount. As of posting time, other oil firms and LPG dealers have yet to announce whether they would match Petron and Shell’s move. On Tuesday morning, Petron, Shell and Chevron (formerly Caltex) cut gasoline prices by P1.50 per liter and their diesel and kerosene prices by P0.25 per liter. Aie Balagtas See, GMANews.TV