MANILA, Philippines --- Isla LPG, the carrier of the liquefied petroleum gas brand Solane, and Petron, which carries the Gasul and Fiesta brands, are enforcing a price rollback on their products effective Thursday.
Solane's P1.50-per kilo rollback, which would translate to a P16.50 reduction for every 11-kilo regular cylinder of cooking gas, will take effect at 12:01 a.m. Thursday.
On the other hand, Petron will reduce the prices of Gasul and Fiesta by P1.65 per kilo (value-added tax excluded) also effective at 12:01 a.m. It will also cut the price of its autoLPG by P1.03 per liter at the same time.
The fuel companies said the rollback reflects the decrease in international LPG contract prices for December.
Cooking gas prices have actually been hiked four times in as many months. Earlier November, LPG players added P1 per kilo to their prices.
Last August, LPG players hiked their products by a whopping P7 per kilo or P77 for every cylinder of cooking gas. This was followed by a pocket-busting P6 per kilo increase in September.
Last October, oil firms hiked their LPG products by as much as P2 per kilo.
Solane was formerly known as Shellane, then the LPG unit of Pilipinas Shell.