LPG Prices Surge Again in February, Impacting Consumers

February brings another financial pinch for Filipino consumers as the price of cooking gas, Liquefied Petroleum Gas (LPG), experiences its second consecutive monthly increase. Petron Corp., in a recent advisory, announced a hike of P0.95 per kilogram for LPG, translating to an additional P10.45 for every 11-kilogram tank starting Thursday, February 1st.

This latest increment follows a substantial rise at the start of the year, where prices soared by up to P3.45 per kilogram, amounting to P37.95 per 11-kilogram tank. This trend reflects the adjustments in the international contract price of LPG for February, as stated by Petron.

Data from the Department of Energy reveals that by the end of 2023, the prevailing LPG prices in Metro Manila fluctuated between P875 and P1,060 per cylinder. This ongoing surge in LPG prices is set to further strain household budgets, particularly affecting daily cooking costs for numerous families.

As the cost of this essential commodity continues to climb, consumers are bracing for the impact on their household expenses, hoping for a stabilization of prices in the near future to ease the financial burden.