Retailers are lowering the prices of cooking and auto liquefied petroleum gas this month.
In a text advisory, Petron Corporation said it would decrease the price of LPG by three pesos and ninety centavos per kilogram effective March 2. It also said that the auto LPG prices will be reduced by two pesos and twenty centavos per liter at the same time.
Petron said the lowering of prices reflects the drop in the international contract price of LPG for the month of March.
Other LPG retailers have yet to announce their respective price adjustments.
Local retailers track the price benchmark set by Saudi Arabia’s state-owned oil company Saudi Aramco every month.
For this month, Saudi Aramco lowered its propane price from 505 dollars per ton last month to 430 dollars this month, and its butane price from 545 dollars to 480 dollars.