Gov’t to unload more LPG inventory at P60/kilo
The Department of Energy (DOE) is looking to sell remaining government-procured liquefied petroleum gas (LPG) stocks to local retailers, with no plans yet to order additional supply despite renewed attacks in the Middle East.
DOE Secretary Sharon Garin said the agency would unload the remaining LPG supply acquired by the Philippine National Oil Company (PNOC).
LPG is the region’s top clean cooking fuel. In the Philippines, about 80 percent of the consumption is attributed to households.
To recall, the state-run group received about 21,000 metric tons of LPG from the United States in May after placing the order in April, about a month after the bombing attacks in the oil-producing region had begun, affecting energy trade.
“Because while we have it, we have to pay for storage. I mean, the rent of the space to store it. So, the longer we keep it, the more expensive the storage,” Garin told reporters last week.
Garin said the government may sell them for P60 per kilogram. In July, PNOC began releasing LPG inventory priced at P68.72 per kilogram.
Garin said there’s no need to place a fresh order. “We have really enough,” she said.
