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Workers prepare LPG tanks for delivery for refill in a reseller in Brgy. Bagong Silangan in Quezon City on February 1, 2023. Mark Demayo, ABS-CBN News

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LPG Tanks for Refill

Alvin Elchico

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/20230201-lpg-tanks-MD-9.jpg" style="width:950px" class="fr-fic fr-dib" alt="Workers prepare LPG tanks for delivery for refill in a reseller in Brgy. Bagong Silangan in Quezon City on February 1, 2023. Mark Demayo, ABS-CBN News"/><span class="fr-inner" style="text-align:left"></span></span></span></div><p>(<strong>UPDATED</strong>) Just like in the previous month, the contract price of cooking gas went up on the last day of the month, resulting in an increase in retail price contrary to earlier estimates of a minimal rollback. </p><p>Regasco President Arnel Ty explained that the contract price two and three days before Feb. 29 indicated a downward trend but it suddenly spiked on the last day of the month. </p><p>Regasco is implementing a P0.50/kilogram hike Friday while Petron and Solane announced a P0.27-P0.30/kg price increase. </p><p>According to Ty, suppliers increased freight costs due to the conflict in the Red Sea, among others. </p><div><strong>Fuel prices mixed movement next week</strong></div><p>For transport fuel, prices of diesel and kerosene are likely to go down again next Tuesday while gasoline prices are likely to go up. </p><p>Here are the international prices after four trading days in the mean of Platts Singapore, the country&#x27;s benchmark on pricing: </p><p>Gasoline P0.42/L ⬆️</p><p>Diesel P0.60/L ⬇️</p><p>Kerosene P0.35/L ⬇️</p><p> The Department of Energy said there is more than enough supply of diesel in the market while gasoline inventory is being built up for the driving season pushing prices to go up.</p><p> Jetti Petroleum President Leo Bellas said diesel prices may continue to decrease in the coming weeks while gasoline prices are likely to remain high due to increase in demand in many parts of the world.</p><div><strong> Power issue</strong></div><p> Meanwhile, consumers might have to brace for higher electricity prices in the next months if one of Meralco&#x27;s power supplier shifts to liquid fuel instead of using natural gas coming from the Malampaya consortium or imported liquified natural gas.</p><p> In a disclosure to the Philippine Stock Exchange, First Gen, the operator of several gas-fired power plants in Batangas and a major supplier of Meralco said it is hesitant to proceed with the purchase of imported LNG given Meralco&#x27;s advise that it is &quot;constrained to not pay for certain LNG-related costs during commercial operations of the Gas Plants in the absence of clearance from the Energy Regulatory Commission.&quot;</p><p> If the power plants use liquid fuels, the generation charge will be way higher compared to the price of imported and local natural gas.</p><p> In an earlier letter to Meralco, First Gen said the cost of liquid fuel is at $18.60/MMBtu while the local or imported natural gas is only hovering between $12-$13/MMBtu.</p><p> &quot;Without a binding commitment from Meralco, First Gas Power Corporation and FGP Corp. will not proceed with the purchase of the said new LNG cargo. Thus, in the absence of Malampaya gas, the Santa Rita and San Lorenzo power plants will be unable to utilize LNG and have no choice but to operate on liquid fuel,&quot; First Gen said.</p><div><br/></div><div><span></span><br/></div>

Cooking gas prices rise anew in March

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Cooking gas prices rise anew in March

Alvin Elchico,

ABS-CBN News

Published Mar 01, 2024 12:38 PM PHT

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Updated Mar 01, 2024 04:48 PM PHT

Read More:

liquefied petroleum gas

fuel prices

presyo ng lpg

LPG

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