PETRON Corp. slashed the price of its liquefied petroleum gas (LPG) product after implementing increases for three consecutive months this year.
In its advisory, Petron said its LPG price was cut by P1 per kilogram (kg) or a total of P11 per 11-kg cylinder effective 12 noon yesterday.
“This reflects the international contact price of LPG for the month of April,” it said.
Other industry players are expected to make the same announcement.
This month’s downward adjustment came following the 30-centavo per kg increase implemented in March. For this year, the largest price hike of P3.40 per kg was implemented in January.
Gasoline Price Up, Diesel Down Today
Local oil companies, meanwhile, will implement a mixed adjustment in the prices of petroleum products effective today.
In separate advisories, the oil firms said gasoline prices will increase by 45 centavos per liter. Diesel and kerosene will decline by 60 centavos per liter and P1.05 per liter, respectively.
This is the third straight week that industry players jacked up the pump price of gasoline.
Cleanfuel and Seaoil will be the first to implement the fuel price adjustment at 12:01 am. Petron Corp., Pilipinas Shell and Petro Gazz will follow at 6 a.m.
The announcement comes following a big-time price hike in the past week, with gasoline rising by P2.20 per liter, diesel by P1.40 per liter and kerosene by P1.30 per liter. (Jordeene B. Lagare © Philippine Daily Inquirer)
