Prices of independent liquefied petroleum gas products will increase by at least three pesos per kilogram starting midnight Saturday, the LPG Marketers Association said.
LPGMA president Arnel Ty said the latest price increase will bring LPG prices from P565-P575 to over P600 per 11-kg tank.
Ty said the latest increase is the result of the surge in international contract prices. He said fluctuating foreign exchange rates are also having an effect on LPG prices.
"Normally, there should only be one LPG price increase per month but suppliers and dealers said the foreign exchange rate is having an effect on LPG prices," he told radio dzMM.
Small LPG dealers raised prices of their products by P5.50 per 11-kg tank two weeks ago.