Posted: Friday, January 19, 2018. 9:33 pm CST.
By BBN Staff: Following news that butane importers were demanding a price increase and worries over a likely shortage, the government and the three major importers have reached an agreement, which will see supply uninterrupted.
The release from the Belize Bureau of Standards (BBS) also added that there would be no “immediate” adjustment to the price of Liquid Petroleum Gas (LPG) following the most recent adjustment on January 13.
“LPG prices are subject to seasonal adjustments, volatility of which is pegged to external market dynamics, specifically, the price of oil and climatic conditions. Despite this, the GOB has not adjusted the controlled prices for LPG since January of 2017,” the statement said.
According to reports, the importers had requested an increase of $1.25 cents per gallon, which would have sent the price of a 100 pound cylinder from $97 to $128 in Belize City. There were also reports that the importers had raised the wholesale price of butane, which surprisingly is not regulated by the BBS.
GOB granted a 32 cent increase on Saturday January 13, which sent the price of the 100 pound cylinder up $7 from $97 to $104 in Belize City. Some businesses had also reported being affected by the new wholesale prices.
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