- Petron and other industry players announced a price reduction in their liquefied petroleum gas
- Petron and Phoenix LPG Philippines cut its LPG prices by P3.15 per kilo, Solane by P3.18 per kilo
- The price decrease was due to movement of prices on the world market
Amid the rising prices of commodities as a result of the implementation of the tax reform for acceleration and Inclusion law, Petron Corporation and other players in the liquefied petroleum gas (LPG) industry announced a reduction of prices.
According to the Manila Bulletin, Petron cut its Gasul and Fiesta LPG brands by P3.15 per kilo for a total of P34.65 for a standard 11-kilogram LPG cylinder. The company also reduced the price of its Xtend AutoLPG by P1.75 per liter.
Likewise, Phoenix LPG Philippines announced a P3.15 price decrease per kilo for its LPG, while Solane cuts its LPG price by P3.18 per kilo.
The price reduction was due to the downtrend in the international contract costs as benchmarked on Saudi Aramco pricing.
The price decrease took effect Thursday midnight, February 1.