LPG prices in PH expected to drop in September

Lower freight expenses helped reduce domestic liquefied petroleum gas (LPG) prices for September by PHP0.40 per kilo, offsetting an uptick in international contract prices, the Department of Energy (DOE) said Tuesday.

In a news release, the DOE said households using a standard 11-kilogram LPG cylinder will see a PHP4.40 reduction in their LPG expenses this month.

The international LPG contract price rose to USD649.50 per metric ton this month from USD634 per metric ton in August, while the freight cost went down from USD120.82 to USD94.41 per metric ton.

Another favorable factor for domestic LPG prices was the appreciation of the Philippine peso against the US dollar, which improved to PHP61.40 in August from PHP61.59 in July.

The DOE added that domestic prices for an 11-kg cylinder are expected to range from PHP1,031 to PHP1,536, depending on the brand and location.

“For families who rely on LPG to prepare their meals every day, every peso saved can go toward other household needs. The reduction may be modest, but consumers should benefit whenever market conditions bring costs down,” Energy Secretary Sharon Garin said.

-Philippine News Agency