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Latest News Philippines: LPG PRICE HIKES – Journal.com.ph:
BRACE for more spikes in prices of liquefied petroleum gas (LPG) especially as the Christmas season nears.
Stung by flak over the recent LPG price hikes, the Palace said the Department of Energy has a lot of explaining to the public to do in connection with the latest burden on consumers.
However, Deputy presidential spokesperson Abigail Valte said the Palace’s hands are tied, pointing out it cannot interfere with the pricing of the cooking fuel products as the industry is deregulated.
“We will leave it to the DOE to explain… ano nangyari sa increase ng LPG, ano ang specific dahilan bakit nagkaroon ng increase,” Valte said.
Several LPG dealers raised the prices of their products recently. One firm hiked prices by P6 per kilo, adding P66 to the price of an 11-kg tank. Another jacked up its prices by P7.84 per kilo to add P86 per 11-kg tank.
Last week, a DOE official said LPG prices may go up in September due to the movement of prices of the commodity on the world market.
Energy Oil Industry Management Bureau director Zenaida Monsada cited, too, the tension in the Middle East as a reason for the expected hike.
LPG prices are also expected to go up as the holidays approach, since there is a higher demand for it at this time of the year.
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