LPG firms implement early price rollback

MANILA, Philippines — Liquefied petroleum gas (LPG) players have cut product prices ahead of monthly scheduled adjustments as contract prices continue to fall in the international market.

As of yesterday, Petron Gasul and Fiesta Gas have implemented a rollback of P44 on the price of their 11-kilo cylinders, while Solane issued a P4-per-kilo cut on its products.

Regasco plans to do a weekly rollback, starting with a P2-per-kilo cut today.

The Department of Energy has greenlit the advanced rollbacks, which will be applied to December adjustments should prices in the international market continue to drop, Regasco president Arnel Ty said.

“Right now, these rollbacks are each brand’s effort, so we absorb the costs initially,” Ty told radio dzMM yesterday.

Contract prices for LPG, as determined by Saudi oil giant Aramco, are currently down by $110 per metric ton – still an effect of the Democratic Party’s huge victory in last week’s United States midterm elections.

“We expect that once the Democrats control the US Congress in January, they won’t release funds for the Iran war. Markets hope that the US and Iran will push through with peace talks so that the Strait of Hormuz will be reopened again,” Ty said.

Ty said earlier that he sees LPG prices moderating come December and into early 2027.

High LPG costs have forced some households to shift to traditional cooking materials, such as firewood and charcoal, Ty noted.