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PIA Press Release
2008/11/12

DTI to monitor LPG price after P6 rollback

Tacloban City (November 12) -- The Department of Trade and Industry (DTI) in the Province of Leyte will monitor today the prices of Liquified Petroleum Gas to check whether the P6.00 rollback is being implemented by the retailers.

Mr. Joe Molina of DTI Leyte when reached by PIA in the afternoon of November 11, informed that he was informed by reliable sources at the Petron Depot in Tacloban, of the impending P6.00 rollback.

This is the reason why, DTI Leyte has scheduled a monitoring today. Mr. Molina said that this latest rollback will bring the price of 11 kg of LPG tank to P430.50.

While it is supposed to be the Department of Energy which is in charged of monitoring the prices of fuel, since there is no DOE office in the province, DTI Leyte is taking the initiative.

DTI will check on the price tag of LPG. It will also check on the weight of the LPG tank, whether it is really 11 kilos or not, Mr. Molina said, in order to protect the interest of the consumers.

Giant oil firms Pilipinas Shell and Petron announced Tuesday noon that it would be slashing the prices of its liquefied petroleum gasoline (LPG) products by P6 per kilogram.

The substantial LPG price adjustment of Shell would take effect at 12:01 a.m. of Wednesday, bringing down the price of an 11-kilogram LPG tank by P66.

The similar price cut for Petron would be implemented an hour after Shell does or at 1 a.m. of Wednesday.

Reports had it that Petron slashed its LPG prices due to the lowering of contract prices in the world market. Petron has so far enforced a total of P10 per kilogram rollback on its LPG products, P4 of which were slashed last week.

The LPG Marketers Association - which sells Pinnacle Gas, Cat Gas, Omni Gas, Nation Gas and Island Gas - slashed on Tuesday the price of its LPG products by P1 per kilogram.

Despite the series of LPG price cuts, Energy Sec. Angelo Reyes had earlier said he was still not contented and urged the oil firms to further implement bigger reductions.

Since October 31, the LPGMA has already rolled back its LPG prices by a total of P12 in five different instances. (PIA 8) [top]

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