Independent LPG retailers to roll back prices

As much as P1.50 per kilo will be pared off the price of cooking gas this month, the Liquefied Petroleum Gas Marketers Association (LPGMA) said Tuesday. LPGMA party list Rep. Arnel Ty explained that a drop in international contract prices of LPG caused the lowering of prices by P1.50 per kg, or P16.50 for an 11-kg cylinder. The association is made up of independent retailers, including Republic Gas, Pinnacle Gas, Cat Gas, Omni Gas, Nation Gas, and Island Gas. The suggested retail price for the group is now at P623.50 per 11-kilogram cyclinder from P640. The independent retailers sell cooking gas 12 to 18 percent lower than those sold by Petron Corp. and Pilipinas Shell Petroleum Corp., said Ty. An 11-kg cylinder of Petron Gasul and Shellane sold for P713 and P769, respectively, in Quezon City on Saturday. This is the second time independent retailers rolled back LPG prices. In September, prices were reduced by P1 per kilo, bringing prices down by 1.7 percent for 11-kg cylinders. — BC/VS, GMA News