Independent dealers to bring down LPG prices Friday

Independent dealers of liquefied petroleum gas (LPG) will bring down the prices of their products effective at 12:01 a.m. on Friday. The LPG Marketers’ Association (LPGMA) will bring down the prices of their products by P1 per kilogram (kg), radio dzBB reported Thursday. LPGMA party list Rep. Arnel Ty said this was due to the lower contract price of LPG, which now stands at $75 per metric ton, the report added. On May 24, the LPGMA cut the prices of their products by 50 centavos per kilo, or P5.50 per 11-kg tank. The LPGMA similarly rolled back prices by 50 centavos per kilo last May 11. In April, Ty had warned of possible price hikes in LPG because of the tension in the Middle East. However, as the situation there began to ease, the price of the commodity had been going down. - VVP, GMA News