BY JOHN LOURENZE POQUIZ

MAJOR oil players Petron Corp. and Pilipinas Shell yesterday cut prices of liquefied petroleum gas by P6 a kilogram, the biggest cut since prices spiked in April.

With the price cut which will take effect at noon today, an 11-kilogram LPG tank from Petron and Shell now costs P558 to P564.

Petron spokeswoman Virginia Ruivivar said the price cut reflects international contract prices for LPG in November.

For this month, Petron and Shell have cut LPG prices by P10 per kg.

Earlier this week, small players announced another round of price rollback with a P1 per kilogram price cut on 11-kg tanks.

Bobby Kanapi, Shell vice president for communications, said consumers could expect more price cuts considering the downtrend in the international oil price.

Sea Oil also announced a P2 per liter price cut on auto LPG, bringing its pump price to P24 per liter.

Late last week, the Department of Energy said it would be forced to have LPG retailers audited if their prices do not reflect the sharp decline in LPG contract price in the international market.