MANILA -- Petron Corp. announced that it will implement another increase in the prices of its liquefied petroleum gas (LPG) products effective Friday amid rising contract prices in the world market.
In an advisory, the company said a PHP2.90-per-kg. increase will be implemented for cooking gas to take effect 12:01 a.m. on March 1.
“Auto LPG prices will increase by PHP1.65 per liter at the same time,” it said.
“These reflect the international contract price of LPG for the month of March,” it added.
Other local LPG suppliers are expected to make similar upward adjustments in the prices of their products.
Oil industry stakeholders have earlier explained that while LPG follows a similar path as liquid fuels, it is traded separately in the global market, thus, the extent and timing of price adjustments may differ. (PNA)
