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| LPG Prices Surge in February |
LPG Prices Surge in February: What Consumers Need to Know
Starting February 1st, 2025, households and businesses alike will feel the impact of increased liquefied petroleum gas (LPG) prices. Major LPG suppliers in the Philippines, including industry giants Petron and Solane, have announced significant price hikes, attributing the adjustment to the latest international contract price for LPG.
Petron has raised its LPG prices by PHP0.70 per kilogram, while Solane has implemented a slightly higher increase of PHP0.73 per kilogram. This means that the cost of an 11-kilogram LPG cylinder, commonly used by households, will see an increase ranging from PHP7.70 to PHP8.03.
Auto LPG prices are also affected, with a marginal increase, impacting transportation and associated sectors.
The price hike is not just a reflection of international market trends but also highlights the ongoing challenges faced by the energy sector. As global demand continues to fluctuate and geopolitical factors come into play, consumers must brace themselves for these recurring adjustments.
For families reliant on LPG for daily cooking needs, this price surge calls for more prudent consumption practices. Households may consider optimizing their LPG usage, exploring alternative energy sources, or even purchasing smaller LPG cylinders to manage costs more effectively.
The Department of Energy (DOE) assures the public that it remains vigilant in monitoring fuel prices and will continue to provide updates and necessary interventions to mitigate the impact on consumers.
While the increase may seem modest in the short term, the cumulative effect over months can strain household budgets, especially for lower-income families. Therefore, it is crucial for consumers to stay informed and adapt to these changes accordingly.