The country's liquefied petroleum gas (LPG) supply remains adequate, but the price of an 11-kilo tank is expected to approach P1,500 next month. Arnel Ty of the LPG Marketers Association Inc. said prices will rise by at least P30 per kilo due to higher shipping and contract costs amid the global oil crisis.
MANILA, Philippines — Arnel Ty, founder of the LPG Marketers Association Inc. (LPGMA) and president and CEO of LPG retailer Regasco, said LPG prices are set to increase by at least P30 per kilo. The hike stems from rising shipping and contract costs amid the global oil crisis. “The price increase will be the highest in history,” Ty said in a message to reporters yesterday. The adjustment, equivalent to P330 for an 11-kilo tank, will roll out in stages: P20 per kilo on March 28 and an additional P10 per kilo on April 1. It aims to cover costs for new products requiring higher capitalization due to elevated international prices. Currently, an 11-kilo LPG tank sells for up to P1,135 in Metro Manila, according to the Department of Energy (DOE). Latest DOE data shows the country's LPG stocks will last 23 days. PryceGas, however, anticipates no immediate shortage, with stocks sufficient through the end of April. Solane assured the public in an advisory that it is actively securing new supplies to “ensure sustained availability of our product.” LPGMA member companies hold 30 to 40 days' worth of inventory, Ty noted. A survey commissioned by the group found that five out of every 10 Filipino households use LPG for cooking, with the country consuming around 150,000 metric tons monthly.
