(CNN Philippines) Metro Manila — The prices of liquefied petroleum gas (LPG) products may increase by December, but the price cuts in other fuel products could continue, the Department of Energy (DOE) said.
DOE Oil Industry Management Bureau director Rino Abad said the possible price hike in LPG products is due to the expected global demand.
The months of November and December are considered as the pressure months because inventories pile up as northern hemisphere countries use LPG for heating requirements during the winter period. They will use it continuously from January to March next year, so we are expecting the prices to increase.
As of November, prices of LPG products went up by ₱3.50 per kilogram while prices of auto LPG rose by ₱1.95 to ₱1.96 per liter.
Despite the possible increase in LPG products, the prices of gasoline and diesel may continue to decline. However, the continuous rollback may be spoiled by the plan of OPEC+ to further slash oil production… Read More
