The party-list group Liquefied Petroleum Gas Marketers’ Association (LPGMA) stated that the low cost of cooking fuel should lead to lower prices of other basic commodities such as pan de sal (bread) and other bread products.
LPGMA party-list Representative Arnel Ty announced that local cooking gas prices have been starting to reflect the fair cost of LPG in the international market due to highly aggressive free market competition.
The emergence of more LPG importers and suppliers led bigger companies to continuously adjust prices to keep up with their smaller rivals. He added that the ones who will benefit the most are the consumers since they will be able to enjoy fair and reasonable prices as a result of tough competition.
A total of P37.40 is reduced in the price of 11-kilogram tank after Petron Corp. announced a P3.40 per-kilo rollback in LPG prices. A P3.36 per kilogram or P36.96 per tank rollback is expected from Eastern petroleum Corp., while Isla Gas Corp. would cut prices by P37 per cylinder.