MANILA – Prices of liquefied petroleum gas (LPG) dropped at the start of 2022.
In separate advisories, Petron and Phoenix LPG Philippines Inc. said they decreased the prices of their LPG products by PHP2.55 per kilogram or PHP28.05 per 11-kilogram household cylinder.
Petron also cut by PHP1.43 per liter its auto LPG prices while Phoenix decreased prices by PHP1.40 per liter.
The price adjustments reflected the contract price of LPG in the international market for this month.
Previously, oil industry experts forecasted higher prices of petroleum products starting Tuesday, with big-time price hikes expected in diesel, gasoline, and kerosene products.
Prices of gasoline are seen to increase from PHP2.20 to PHP2.30 per liter, diesel from PHP1.90 to PHP2 per liter, and kerosene from PHP1.80 to PHP1.90 per liter. (PNA)ai/mtvn