LPG prices up P1.50 per kilo

MANILA, Philippines – The prices of major brands of liquefied petroleum gas or LPG went up by P1.50 per kilo yesterday or P15.40 per 11-kilo tank.

Petron Corp., Pilipinas Shell, and Total Petroleum said the latest price hike reflected the uptick in international contract prices for July.

Oil firms usually adjust LPG prices on a monthly basis or as soon as they determine the contract prices for a given month.

The international LPG contract price rose to $528 per metric ton in July from $437 in June. As of July 7, an 11-kilo LPG was being sold for P469 to P567.

Suppliers of LPG or cooking gas have been warning of substantial hikes in prices this month due to rising contract prices.

Earlier, the LPG Marketers Association said it would implement at least P5 increase this month.

The price hikes are also likely to affect some transport operators whose units are LPG-powered. Prior to the latest adjustment, auto LPG sold for P19.88 to P21.58 per liter.

Bread prices may soon go up again after flour millers announced they are increasing their price by as much as P20 per bag later this month.

In a statement, Ric Pinca, executive director of the Philippine Association of Flour Millers (PAFMIL), said that they have no choice but to jack up the price of flour because of the three percent duty imposed by the Bureau of Customs. – Donnabelle Gatdula, Elisa Osorio