LPG prices down by 50 centavos per kilo

Consumers may get some more relief from high prices of goods as independent dealers of liquefied petroleum gas (LPG) slashed prices by 50 centavos per kilo. While LPG Marketers' Association (LPGMA) president Arnel Ty admitted the price drop did not reflect contract prices, he hinted another price cut may be on the way. "Ang contract price ng LPG bumaba last month ng $43 or equivalent halos P1/kilo. Ang problema, hindi na-implement ng oil company ang biglaang pagbaba kundi ginawang staggered, kaming mga customer nila sa refilling ginagawang staggered sa ngayon. Di lahat nakukuha namin,"Ty said in an interview on dzBB radio. (Contract prices of LPG went down last month by $43, equivalent to P1/kilo. But oil companies that imported the commodity did not slash prices accordingly so our group, which only refills LPG tanks, had been forced to make price cuts on a staggered basis.) For now, he said an 11-kilo cylinder of LPG will cost P559, down P6 from the P565 as of Tuesday. Ty said his group can only inform the public of the contract price drop, so oil firms will be pressured to reflect world prices on the commodity. On the other hand, Ty said another price cut within this month is possible. "Oho baka may kasunod ito, malamang another 50 centavos (Yes, it is possible there may be another price cut of 50 centavos per kilo)," he said. — LBG, GMANews.TV