LPG traders eye P3/kilo price hike next month

11/17/2009

After raising the price of LPG cooking gas by as much as P4 per kilo last November, the members of the Liquefied Petroleum Gas Marketers Association (LPGMA) plan to increase its price by another P3 kilo in December, according to LPGMA president Arnel Ty.

LPG distributors and retailers increased the price of LPG last November despite Executive Order No. 839, which was lifted yesterday after mandating the price of all petroleum products rolled back to their Oct. 15 levels. The LPGMA members jumped with joy after the announced lifting of oil price freeze order

World contract price for LPG jumped over $50 per metric ton for November and is expected to rise again next month, Ty said. “It’s about time that we follow the prices being dictated by the international market,” he pointed out.

Meanwhile, small players such as Eastern Petroleum, Flying V Philippines and Seaoil Philippines have announced possible P5 per liter increases on fuel price although they promised to do it in a “staggered” manner.

Pagkakaisa ng mga Samahan ng Tsuper at Operator Nationwide Secretary General George San Mateo said oil firms have so far held on to their old prices but were apparently running short on product supply.

“We have not received any report that oil firms increased their fuel prices but gas stations were telling us that they ran out of diesel fuel. They lifted EO (839) and oil firms are creating an artificial fuel shortage situation,” San Mateo said. Pat C. Santos

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