Petron and Solane announced a price rollback for liquefied petroleum gas (LPG) that took effect on March 1.
Petron stated that it implemented a ₱1.20 per kilogram reduction in LPG prices starting at 12:01 a.m., while Solane confirmed a ₱1.19 per kilogram decrease, which became effective at 6:00 a.m.
The latest price adjustments come amid fluctuations in the global petroleum market. The decline in LPG prices is influenced by changes in international contract prices (CP) for LPG, which are typically set by Middle Eastern suppliers such as Saudi Aramco. This month, Saudi Aramco’s contract prices for propane and butane decreased, leading to a downward adjustment in local LPG rates.
Additionally, crude oil prices have experienced volatility due to shifts in supply-demand dynamics, geopolitical tensions, and economic uncertainties. The recent increase in U.S. crude oil inventories and the slowdown in demand from China, one of the world’s largest energy consumers, have contributed to lower global LPG costs.
Experts suggest that while this rollback benefits consumers, LPG prices remain sensitive to external factors such as OPEC+ production decisions, freight costs, and seasonal demand changes. Moving forward, local fuel companies will continue to monitor global market trends to determine future price movements.
The price reduction is a welcome relief for consumers, particularly for households and businesses reliant on LPG for cooking and industrial applications.
