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LPG prices to go up by P1/kg

Posted by Michille on November 30th, 2006

The LPG Marketers’ Association on Thursday announced that prices of liquefied petroleum gas will increase by P1 per kilogram effective midnight.

In a phone interview, LPGMA president Arnel Ty said the new round of price adjustment will be implemented due to higher contract prices in the world market.

Ty said the contract prices rose $28 per metric ton due to the increased demand for LPG from other countries in preparation for the winter season and Chinese new year. He said the adjustment in contract prices was equivalent to P1.50.

He said the manufacturers will absorb the P0.50-increase.

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