LPGMA to roll back prices anew on Friday

After starting the New Year with a P1/kilo rollback, independent liquefied petroleum gas (LPG) dealers will implement a second P1/kilo rollback on Friday, bringing down LPG prices below P600 per 11-kg tank. LPG Marketers Association (LPGMA) president Arnel Ty also hinted at more rollbacks in the coming months as world contract prices go down. "Effective tomorrow morning, Friday, magkakaroon ng (there will be) another P1/kilo rollback or P11/cylinder," Ty said in an interview on dzBB radio. He said this will effectively bring down prices of 11-kg LPG tanks from the present P609 to P598. Ty said that with the competitive price, they expect the "Big Three" producers of fuel to follow suit, referring to Shell, Petron and Chevron. "Ito competition sa merkado at expect namin ang contract price will start to drop next month ... Sa tingin namin magkakaroon pa ng rollback (This is part of the competition in the market. And since we expect contract prices to drop next month, we expect more rollbacks coming)," he said. Earlier this week, the LPGMA announced a P1/kilo rollback on Monday. Ty earlier said the rollback was an effect of the market’s settling down after the busy holiday season. - LGB/RSJ, GMANews.TV