By Myrna M. Velasco
Here is a welcome relief from price increases as a result of the new tax reform law.
The price of liquefied petroleum gas (LPG), the main cooking fuel for households has been reduced by P3.15 per kilogram or a total reduction of P34.65 for the standard 11-kilogram cylinder.
This is reportedly due to the downtrend in the international contract costs as benchmarked on Saudi Aramco pricing.
As of press time, the industry players that advised price cuts were Petron Corporation for its Gasul and Fiesta brands; Solane and Phoenix LPG Philippines, Inc.
The rollback took effect midnight yesterday.
Somehow, the price reduction offsets the P1.00 per kg hike triggered by the excise tax imposition under Tax Reform for Acceleration and Inclusion (TRAIN) Act.