LPG prices drop at start of 2022

Liquefied petroleum gas (LPG) prices dropped at the start of 2022.

Petron and Phoenix LPG Philippines Inc. decreased their LPG prices by P2.55 per kilogram, equivalent to a reduction of P28.05 for an 11-kilogram household cylinder.

Petron also reduced auto LPG prices by P1.43 per liter while Phoenix cut them by P1.40 per liter.

These price adjustments reflect the international contract price of LPG for January.

Previously, experts had forecasted higher petroleum product prices starting Tuesday, with expected increases in diesel, gasoline, and kerosene.