Isla LPG and Petron Corp. have announced an upward adjustment in liquefied petroleum gas (LPG) prices, citing the higher contract rates of LPG in the global oil market.
Effective October 1, Isla LPG is increasing the price of its Solane-branded LPG by P3.73 per kilogram, inclusive of VAT.
Simultaneously, Petron is implementing a price hike of P3.75 per kilogram for LPG, inclusive of VAT, effective from October 1. AutoLPG prices will experience an increase of P2.09 per liter at the same time.
These adjustments are reflective of the international contract price of LPG for the month of October.
Consequently, this price adjustment equates to an increase of P41.25 for an 11-kilogram LPG tank in October. The move underscores the impact of global oil market dynamics on domestic LPG prices.