Regasco Implements Phased Price Hike for LPG Products Amid Global Market Pressures

The Philippine Republic Gas Corp. (Regasco) has begun implementing a phased price increase for its liquefied petroleum gas (LPG) products. The first phase, which started on October 4, saw an $8 per kilogram hike in prices, followed by another $4 per kilogram increase on October 10 and a final $2 per kilogram raise on October 17. This will make the standard 11-kilogram LPG cylinder about P198 more expensive.

The total price hike of $18 per kilogram is attributed to a rise in contract and freight costs, with Saudi Aramco announcing a P5 per kilo increase due to higher Dubai crude oil prices. Regasco president Arnel Ty stated that these global market developments have offset the previous P3-per-kilo cut in LPG prices as a result of the excise tax suspension ordered by President Marcos.

Others in the industry, such as Solane and Petron Gasul, have not yet announced whether they will follow suit. Regasco currently holds 20 days' worth of supply, well above the seven-day minimum requirement but far from the 45 days the Department of Energy aspires to. China's suspension of fuel exports in October is also affecting LPG supplies.