LPG prices up by almost a peso
The prices of Liquefied petroleum gas (LPG) or the cooking fuel for most Filipino households have gone up by almost a peso because of the adjustments made according to international contract prices.
To be specific, the price inched up by P0.90 to P0.91 per kilogram this month, or P9.99 to P10.01 for the standard 11-kilogram cylinder.
“These reflect international LPG contract prices for the month of July,” the oil firm Petron said in a Manila Bulletin report.
Another player Solane applied the same adjustments.
“LPG price adjustments follow the cost swings in international contract prices, which are benchmarked on Saudi Arabia contract prices, a pricing reference for Far East markets including the Philippines,” the report further said.
“This contract price is often set by the oil kingdom-producer Saudi Aramco at the beginning of each month,” it added.