DOE asks LPG dealers: Stagger price hikes

Wary of another possible price hike for liquefied petroleum gas (LPG) within this month, the Department of Energy has asked LPG dealers to stagger their price adjustments. In a radio interview on Tuesday, Energy Undersecretary Jose Layug Jr. said DOE officials made the request in a meeting Monday with representatives of LPG dealers. "Kahapon pinulong namin ang mga LPG player kasi nakita namin sa aming calculation mataas talaga ang tinaas ng LPG sa merkado ... Nakiusap kami na i-stagger ang pagtaas ng presyo," Layug said told dzBB radio. (On Monday we met with the LPG players because our calculations showed a huge increase in LPG prices in the market. We asked them to stagger their price increases.) One of the LPG dealers, Shell, already announced an increase in LPG prices of P3/kilo or P33 per 11-kg tank. The LPG Marketers' Association indicated as well that it will increase the prices of their products this month. When asked if another price hike may follow the P3/kilo increase before the end of May, Layug said, "very likely." "Kaya kahapon tinawag namin sila, sinabi namin huwag isang bagsakan (The high likelihood of further price hikes this month was the reason why we called the meeting and asked the LPG players to stagger their price adjustments)," he said. Earlier, LPGMA party-list Rep. Arnely Ty said the international market price of LPG rose by $94 per metric ton this month. — RSJ, GMA News