Expect a rollback in the price of liquified petroleum gas (LPG) next week, the LPG Marketers Association (LPG) told CurrentPH News Service on Sunday.

LPGMA president Arnel Ty said that while the final price has yet to be announced at the end of the month, they are looking at a P4-P5 rollback per kilogram or a P44-P55 cut per cylinder by March.

As of February 24, 2023 the contract price for LPG had been going down.

However, Ty quickly said that the price is not yet final as they await the final contract price on Tuesday, February 28, 2023.

“Forecast rollback is P4-P5 per kilogram,” Ty said.

Ty explained that the law of supply and demand took it effect in the pricing.

“(The) supply production continues to be strong, while demand already softened,” he said.

This is in contrast to the LPG price hike imposed this February.

The rollback likewise affects the prices of petroleum products with industry sources saying that the price of diesel products will be down by P1.40 to P1.80 per liter.

For gasoline it is estimated at P0.75 to P1.15 per liter.

Meanwhile for kerosene, it will go down by P1.50 to P1.90 per liter.

For fuel products at the pumps, the basis of cost adjustments will be Mean of Platts Singapore (MOPS); while LPG price swings will be anchored on international contract prices as benchmarked on Saudi Aramco, the reference pricing for Asian markets.

CURRENTPH NEWS SERVICE