LPG price going up in February 2019
MANILA, Philippines — Consumers will see an increase in prices of cooking gas this month due to an uptrend in the global market.
In a text advisory, Petron Corp. said it will increase prices of liquefied petroleum gas (LPG) by P3.88 per kilogram effective 12:01 a.m. today.
The oil firm said it will also increase AutoLPG by P2.17 per liter at the same time.
Solane said it will implement an increase of P3.41 per kilogram, exclusive of value-added tax, on its LPG prices effective 6 a.m.
This is based on the pricing of Saudi Arabia’s state-owned oil company Saudi Aramco, which sets an international price benchmark at the beginning of each month and is tracked by local retailers.
Based on a survey by Platts, traders have estimated the February propane contract price to be set at $430-440 per metric ton, compared with the $430 per MT set last month.
Traders also project an increase of $15-30 per MT in butane contract prices from last month’s $420 per MT.
Prior to this adjustment, prices of LPG tanks ranged between P543 and P730, based on data from the Department of Energy.
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