LPGMA: Another LPG price rollback possible next week

After rolling back liquefied petroleum gas (LPG) prices by P1 per kilogram on Tuesday, independent LPG dealers said there could be another price rollback next week. LPG Marketers Association party-list Rep. Arnel Ty said there was a $60 drop in contract prices for the commodity this month. "Probably it will be next week ... Mga $60 ang binaba ng contract price ngayong buwan na ito. Maaring another P1 yan next (week) dahil equivalent of P2 ang $60 pag convert natin sa peso ... Within the month kailangan ma-implement natin yan," Ty said in an interview on dwIZ radio. At 12:01 a.m. on Tuesday, LPGMA members rolled back prices of its products by P1/kilogram, or P11 per 11-kg LPG cylinder. Ty said an 11-kg cylinder now costs P669. Higher prices Ty noted that even though the contract prices for the commodity has gone down, the prices are not expected to go as low as they did last year. "Tayo ay 100 percent umaasa sa imported fuel," he said. He said it is unlikely that prices of LPG this year will go down to P500 per 11-kg tank, noting that the lowest price last year was P600. In the meantime, Ty said the LPGMA continues to work with the Energy and Trade departments to crack down on sellers who overprice or under-fill LPG cylinders. He said a joint task force monitors the activities of LPG dealers and closes down or penalizes violators. "Maganda sa nangyari this year nabawasan especially in Metro Manila ang underfilling at substandard. Next focus ang kalapit na probinsya. Sa Metro Manila so far malaki ang binawas," he said. - VVP, GMA News