In response to the significant drop in the contract price of Liquefied Petroleum Gas (LPG) in the world market, REGASCO, one of the leading LPG suppliers in the country, announced a P5/kilogram rollback in their LPG prices. The price adjustment, according to REGASCO President Arnel Ty, will take effect starting June 1, 2023.

Ty stated that the weakening of the peso against the US dollar prevented a larger reduction in prices. "111 (USD) ang ibinababa comparative to last month ang impact nito sa ating local price is 5 pesos per kilo that will be a rollback and it will be implemented by (June 1 2023) tomorrow morning. " he explained.

Ty acknowledged that a larger reduction would have been possible if the exchange rate had not weakened. He elaborated, "Five pesos per kilo mas mataas dapat yan pero dahil sa pag galaw ng dollars umangat ng piso comparative to last month also the shipping cost for month of June ay umangat din ng 15 dollars so nagkaroon ng impact yan".

The decision to implement the rollback comes as good news for consumers, as it will result in lower LPG prices starting tomorrow. This adjustment is expected to bring some relief to households and businesses, as LPG is widely used for cooking and various industrial purposes.
The REGASCO President reassured customers that the company remains committed to providing affordable and reliable LPG products. He expressed optimism that the downward trend in the contract price of LPG will continue, allowing for further reductions in the future. REGASCO continues to monitor market conditions closely and will make adjustments accordingly to ensure competitive prices for their customers.

Consumers are advised to check with their local retailers or distributors for the revised LPG prices following the implementation of the rollback on June 1, 2023.