The country has enough supply of liquefied petroleum gas (LPG), but prices may rise in the coming weeks as tensions in the Middle East continue, according to LPG Marketers’ Association (LPGMA) Founder Arnel Ty.
In an interview on DZRH's Damdaming Bayan, Ty assured the public that there is no immediate risk of an LPG shortage as industry players continue to secure adequate inventory.
“Pagdating po sa imbentaryo, we can guarantee na sa tulong-tulong na ginagawa namin ngayon, hindi po tayo mauubusan,” Ty said.
However, he acknowledged that global developments are driving up costs, particularly shipping expenses, which could translate into higher retail prices.
Ty explained that the surge in oil prices and the ongoing conflict in the Middle East have driven up international shipping expenses.
“Ang presyo lang po ang problema, medyo malaki po ang mga itataas na presyo sa mga susunod na mga linggo dahil ang shipping cost hangga’t hindi pa po kumakalma ang tensyon sa Middle East talaga pong patuloy na tumataas ang mga shipping cost nila,” he added.
According to Ty, the price of an 11-kilogram LPG cylinder could reach around ₱1,400 to ₱1,500 in the coming weeks or months if global market pressures persist.
“Ang tantsa namin pinakamataas na aabutin nito mga around ₱1,400 to ₱1,500 in the coming weeks or months,” he noted.
'Do not buy extra tanks'
Ty also advised the public not to panic-buy or buy extra LPG tanks, echoing the appeal of the Department of Energy (DOE) to maintain a stable market supply.
As of March 24, Ty said the suggested retail price (SRP) for an 11-kg LPG cylinder in Luzon ranges from about ₱1,075 to as high as ₱1,250, depending on the brand.
“So far, sa monitoring namin including the monitoring of Department of Energy for Luzon, wala pa naman ‘yung ganoong presyo [ ₱1,250- ₱1,300] pero sa Visayas and Mindanao meron na po kaming namo-monitor dahil mas mataas din po kasi ang rate cost sa mga araw na iyon,” he said.
He also revealed that LPG, diesel, and gasoline industry representatives and the private sector recently met with Executive Secretary Ralph Recto and Energy Secretary Sharon Garin to discuss the situation and ensure the continuous procurement of additional LPG supplies.
He said the government advised industry players to continue securing available LPG from the international market to boost the country’s inventory.
According to Ty, the sector has committed to maintaining around 30 to 40 days’ worth of LPG inventory at present.
He noted that while the shipments and products have not yet arrived, they are already covered by contracts. The main concern, he said, is the rising cost of shipping, which has been documented and submitted to the DOE for transparency.
The government is also set to begin government-to-government talks with member countries of the International Energy Agency (IEA) to help ensure a continuous supply.
No price cap for now
On whether the government plans to impose a price cap on LPG, Ty said authorities have decided against it for now.
He explained that setting a price cap could make it harder for the country to compete with other buyers in the global market, particularly India, which is aggressively purchasing LPG supplies.
