Just hours after independent cooking gas retailers said that they plan to cut prices by P1.50 a kilo, oil giants Pilipinas Shell and Petron Corp. confirmed Monday night a similar rollback on their liquefied petroleum gas (LPG) products.
Shell said its rollback on LPG (Shellane) took effect at 12:01 a.m. Tuesday, while Petron’s price reduction on its cooking gas (Gasul) would be implemented six hours later.
Since a regular cylinder of cooking gas weighs 11 kilos, the P1.50 price drop would translate to a reduction of P16.50 per tank. The rollback brings down the suggested retail price (SRP) of Shellane and Gasul to P589.
Meanwhile, cooking gas from the other remaining big oil player, Chevron Philippines (formerly Caltex), retailed for P650 as of Monday night.
Chevron was yet to announce an adjustment as of press time.
Monday morning, LPG Marketers Association (LPGMA) President Arnel Ty said that the group is looking to drop their product prices between P1 and P1.50 a kilo sometime this month.
Source: MB
