This was the first time that the umbrella group of independent sellers enforced a price drop of sorts since March, said LPGMA President Arnel Ty. The LPGMA has jacked up LPG prices at least five times this year.
However, Ty made it clear that it was not a sweeping rollback.
"This is not a rollback by the entire association," he told DZBB radio, but did say that his own company, Regasco LPG, would be slashing prices.
"Other groups began enforcing it as early as yesterday (Thursday). We’re just making it official today," said Ty who did not mention other participating groups.
With the price adjustment, a standard 11-kilogram cylinder that was previously worth P660 would now retail for P654.
"We’ve rounded off the rollback from P5.50 to P6," Ty said.
The LPGMA head said that a tenacious peso and a perceived decrease in contract prices for LPG led to the rollback.
As for a rollback in prices of autogas, Ty told consumers to wait until next week. "Maybe we’ll have an official announcement about a rollback on autogas next week."
Meanwhile, Department of Energy (DoE) Undersecretary Zenaida Monsada killed the hopes of a possible rollback on diesel despite tumbling world crude prices, saying that local oil companies still have too much losses or "under-recovery".
"Perhaps for gasoline, the price hikes will finally stop if the downward trend of world oil prices continues. But the under-recovery is still too big for diesel price hikes to stop, unfortunately," Monsada told the same radio station in an earlier interview.
Monsada, the oil industry management bureau chief, also said she was not aware of any sign that oil firms were "persuaded" to forego any price hike this weekend, which is the last before President Arroyo delivers her State-of-the-Nation Address (SoNA) on Monday.
Oil giants last Saturday imposed a hefty P3 per liter increase in pump prices for diesel, but cut back P1 just days later following an "appeal" from Malacañang
4 comments:
This is great news! The rollback of LPG prices would help allot of people. Mostly people who run a food stands like carenderia, fishbolan. This might also result to the decrease prices of foods in this section. Not only the people who run a food stand can be affected but all of us. All of us use LPG mostly for cooking our foods. This can also mean less expenses.
nako ang mahal na ng gas. maglakad na tau lahat papunta sa school!! okea bigyan nman natin ng chance ang mga pedicab drivers hahahah
I believe this is a very bad thing to happen. A lot of people have moved to diesel powerd cars to save money but in return, diesel prices have increase and it is near the 60 peso line. Trucks use diesel to power their cars and if diesel prices increase then also the price of the goods. The food we're going to buy in supermarkets will also increase and so are other appliances, and clothings. All of these things use trucks to deliver their products. What will happen if diesel prices increase once more? How much would food be? Poverty rate of the Philippines will increase once more.
If Shell continues to increase the prices of their oils they will definitely suffer from this. No one will buy oil from them anymore since the other companies will be cheaper. It is their loss if they continue to do this nonsense.
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