DOE to get idea on LPG price hike this weekend

The Department of Energy expects to get an idea this weekend of how much prices of liquefied petroleum gas (LPG) will go up in May. DOE Undersecretary Jose Layug Jr. said they are still calculating the expected price adjustment for LPG – a day after independent LPG retailers hinted at a new price hike next month. “Ang LPG kasi buwanan yan, ang gas week on week. Hindi pa tapos ang aming pagkalkula ang pagtaas o pagbaba. Malalaman natin sa end of the month," Layug said in an interview on dzXL radio. On Wednesday, LPG Marketers Association (LPGMA) party-list Rep. Arnel Ty said consumers may have to expect another round of LPG price hikes in May due to high world prices of the commodity. Ty said the looming price hike was due mainly to the continued tension in the Middle East, which is the main source of the country's petroleum products. While Ty did not say how much the price hike would be, but hinted the association would not jack up LPG prices to P750 for an 11-kg tank. Only last Holy Wednesday, the LPGMA imposed a P1/kilo or P11-per-11-kg tank price increase. Last week’s price hike was due to the $45/metric ton increase in contract prices. With last week’s increase, prices of an 11-kg tank sold by LPGMA members went up from P684 to P695. Meanwhile, Layug said the joint task force of the DOE and Department of Justice is still investigating alleged overpricing by oil firms in adjusting their prices last Holy Week. “Hindi ako maka-commit kailan matatapos, kailangan pagaralan nila. Tuloy-tuloy ang aming meeting," he said.