The Liquefied Petroleum Gas Marketers Association (LPGMA) will implement this Tuesday its 14th price rollback for the year, slashing P0.50 for every kilo of its products.

Composed of independent cooking gas retailers around the country, the group said that its rollback, the second this month, would take effect at 12:01 a.m. this Tuesday. Rounded off, the price adjustment translates to a P6-markdown for every LPG regular 11-kg cylinder.

The LPGMA imposed a similar rollback last August 2.

LPGMA President Arnel Ty said the continued drop of their cooking gas prices is a reflection of the plunging world contract prices for the commodity. From $622 per metric ton last month, the contract price or delivery price has gone down to $597 for August.

Contract prices for LPG stood at $693 per metric ton last June, which is $25 lower than it was in April and May.

As such, Ty revealed that the retailers’ group is going to impose more price cuts later this month. “There will be two more rollbacks in the succeeding weeks,” he said.

The LPGMA president added that beginning Tuesday, the suggested retail price (SRP) for their cooking gas tanks would be P524 apiece, down from P530. LPGMA member-brands include Republic Gas, Pinnacle Gas, Cat Gas, Omni Gas, Nation Gas and Island Gas.

Meanwhile, retail stations of some major oil companies quietly enforced price reductions on their own brands of cooking gas, closing the price gap between them and small retailers.

Several stations of oil giants Pilipinas Shell and Petron Corp. along Taft Avenue on Monday noticeably pulled down their LPG prices to P550 per tank, a significant cut from last week’s price range of P565 to P570.

The two companies slashed P1 a kilo off their cooking gas prices last August 3. Shell sells the LPG product “Shellane” while Petron sells “Gasul.”