Independent dealers lower LPG prices anew

Independent dealers of liquefied petroleum gas (LPG) on Thursday said they will cut anew their prices of the cooking gas by 50 centavos per kilo starting the first hour of Friday, May 27. "This will be our third rollback for this month or a total of P1.50 per kilo," said LPG Marketers Association (LPGMA) president and Rep. Arnel Ty. LPGMA members include Omni Gas, Pinnacle Gas, Island Gas, Cat Gas and Nation Gas. "Our SRP [suggested retail price] will be P705 per 11-kg cylinder effective tomorrow (May 27)," Ty said. There may be more LPG price cuts next month, considering that — as of May 25 — the contract prices of LPG have gone down by $65 per metric ton or P2 per kilo, the LPGM official said. LPG prices are adjusted monthly based on the movement of global LPG contract prices. — VS, GMA News