LPG Price Monitor as of 01 June 2018

LPG Contract Price (CP)

LPG Contract Price (CP), commonly called the “ Saudi CP ” is the primary driver of LPG pricing in the Far East including the Philippines . It is an international price benchmark set at the beginning of each month by Saudi Arabia’s state - owned oil company Saudi Aramco.

The DOE refer to the LPG/ Saudi CP and forex monthly average changes in determining /monitoring the price adjustments of LPG in the domestic market. Foll owing the timing of the monthly changes in CP, domestic price of LPG also vary every first day of the month and remain constant through out the whole month.

Like all other petroleum products, the Philippines ha s no influence over the LPG CP as the countr y’s domestic requirement is very small versus the world demand.

For the month of June , LPG Contract Price has increased by 1 1.2 % or US$ 5 6 . 5 0 per metric ton to US$ 560 .00/MT , from US$ 503.50 /MT in May . This would translate to P 3 . 40 per kilogram price adjustment .

Reasons for Price Increase

  • Sentiment in the region is healthy, supported by demand from the petrochemical sector
  • Traders are also seeking propane over the past week to meet demand from regional consumers such as Indonesia and Taiwan

Domestic Prices      

Effective 01 June 2018, most of the oil companies have increased their price by P 3.40 /kg , resulting to a net increase of P0.38/kg since January of this year.

As of today, initial price monitoring of LPG household in Metro Manila, ranges from P 582.00 - 787.00. Details of the monitored prices in Metro Manila are posted at the DOE website - Price Watch .

 

For more information, call the Department of Energy:
Pricing: 840-2187
LPG: 840-2130
Fuels: 840-5669
SMS: (0915) 4469421
Email: [email protected]
Website: www.doe.gov.ph

 

LPG Price Monitor as of 03 May 2018

LPG Contract Price (CP)

LPG Contract Price (CP), commonly called the “Saudi CP” is the primary driver of LPG pricing in the Far East including the Philippines. It is an international price benchmark set at the beginning of each month by Saudi Arabia’s state-owned oil company Saudi Aramco.

The DOE refer to the LPG/Saudi CP and forex monthly average changes in determining/ monitoring the price adjustments of LPG in the domestic market. Following the timing of the monthly changes in CP, domestic price of LPG also vary every first day of the month and remain constant throughout the whole month.

Like all other petroleum products, the Philippines has no influence over the LPG CP as the country’s domestic requirement is very small versus the world demand.

For the month of May, LPG Contract Price increased by US$32.00/MT to US$503.50/MT, from US$471.50/MT last month.

International LPG Market Development Positions

  • Saudi Aramco has set its May Contract Price for propane at $500/mt, up $25/mt from the April CP, and butane at $505/mt, $35/mt above the April CP;
  • The May propane and butane CPs are at the high end of traders' expectations;
  • Butane was priced higher than propane this time, compared to the $5/mt discount of it had commanded versus propane in the April CP, due to healthy demand for butane and evenly split cargoes from China, Indonesia and Taiwan.

Domestic Prices      

Oil companies increased the price of LPG effective 01 May 2018 by P1.90/kg or about P20.90/11-kg cylinder. Auto LPG likewise increased by P1.50/liter.

As of 03 May 2018, household LPG in Metro Manila ranges from P541.00 to P751.00 per 11-kilogram cylinder.

 

For more information, call the Department of Energy:
Pricing: 840-2187
LPG: 840-2130
Fuels: 840-5669
SMS: (0915) 4469421
Email: [email protected]
Website: www.doe.gov.ph

 

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