3rd LPG price hike this month looms; no rollback until Feb

After surprising consumers with a second P3/kg price hike on Monday, liquefied petroleum gas (LPG) dealers will impose a third price hike this month. LPG Marketers Association (LPGMA) president and party list Rep. Arnel Ty also admitted on Tuesday consumers may not expect price relief until at least February 2011. “LPG prices went up by another P3/kilo because international contract price has climbed to $143 per metric ton. That is equivalent to P7/kg adjustment in the local market," Ty said in an interview on dwIZ radio. He did not say when the third price hike of P1/kg will take effect. The LPGMA imposed its first P3/kg price hike for LPG last Dec. 1, and the second P3/kg hike last Monday. But QTV reported Monday night a third price hike might be implemented next week.
Earlier, Ty said there will be only two price hikes this month, with the second price hike at P2/kilo. He also said prices are expected to go down in January. “Ang December wala tayong magagawa riyan ... Pagka ang tanong kailan bababa, maari itong bumaba mga Pebrero," he said. (For December we cannot do anything about it anymore. As to when we can expect prices to go down, I would say about February.) The P3/kg hike on Dec. 1 jacked up prices of 11-kg LPG tank to between P603 and P613. Because of last Monday’s adjustment, each tank now costs between P636 to P646. — LBG, GMANews.TV