LPG price rollback implemented on New Year's Day

The price per kilo of liquefied petroleum gas (LPG) is scheduled to roll back on New Year's Day.

In separate advisories, Petron Corp., and Solane said they will reduce the prices of LPG. 

Starting January 1, at 6 a.m., Solane-branded LPG price will drop by Php0.91/ kilogram. Petron will implement a P0.90/ kilogram rollback in LPG prices effective 12:01 a.m. by January 1. 

"This reflects the international contract price of LPG for the month of January," it said. 

On Monday, Shell Pilipinas said it will slash the prices per liter of diesel and gasoline by P0.30, and also reduce the price of kerosene by P0.90 per liter.

Cleanfuel and Petro Gazz will implement the same changes, excluding kerosene which they do not carry.

Other firms have yet to release their price adjustments for the week as of posting time.

Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero earlier said that the estimated adjustment was triggered by the International Energy Agency’s (IEA) “continued expectation of an oversupplied oil market in 2025 even if OPEC+ (Organization of the Petroleum Exporting Countries Plus) holds production steady or continues to delay the unwinding of its voluntary production cuts.”

On Tuesday, December 24, oil companies hiked the per liter prices of gasoline by P0.50, diesel by P1.45; and kerosene by P0.75. —Sherylin Untalan/NB, GMA Integrated News