Total Phils. raised its liquefied petroleum gas (LPG) price by P1 per kilo Friday, as the LPG Marketers Association (LPG/MA) assured anew that the price of their cooking gas will go down next month.
Total’s increase follows the 50-centavo rollback the LPG/MA announced earlier this week.
“We definitely see a drop in domestic LPG prices for next month," LPG/MA president and party-list Representative Arnel Ty said.
He added that the price cut will be announced this May 30. Ty shared that the international contract price of LPG has dropped by as much as $110 per metric ton and the price stood at $60 per metric ton as of Thursday, May 12.
Ty also said the fall in global LPG contract prices prompted LPG/MA members to abort the P1.50 kilo increase they planned before world prices started falling when Osama bin Laden was killed in a United States Navy SEALS raid on his hideout in Pakistan. — ELR/VS, GMA News