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New prices for butane: What you need to know

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Posted: Saturday, November 16, 2019. 2:15 pm CST.

By BBN Staff: This week, the Government of Belize (GOB) announced that, as of today, the prices for Liquefied Petroleum Gas (LPG) also called butane, will be changed along with the quantities subject to those price changes.

During the last change in prices, which happened in June 2019, GOB set standard prices for butane quantities of >/300 gallons </3,000 gallons, and quantities >/3,000 gallons. Under the new pricing regime, prices are calculated considering quantities <300 gallons, ≥300 gallons ≤2000 gallons, and quantities >2000 gallons.

The base prices have also been adjusted, reflecting average increases of 9 cents for quantities <300 gallons, 9 cents for quantities ≥300 gallons. Consumers will also be paying an average of 57 cents more for quantities ≤2000 gallons, and an average of 42 cents more for quantities >2000 gallons when compared to the old scheme.

“The Government advises the general public that amendments to the legislation in establishing fixed prices has become necessary to prevent predatory pricing by major importers who have engaged in an act of driving prices down well below the maximum ceiling for retail and wholesale of LPG. This temporary measure, therefore, is critical to keep local operators of LPG in business,” GOB explained.

GOB is currently working on a public/private sector partnership, which will see the establishment of the National Gas Company Limited, giving GOB the exclusive responsibility to import butane into the country after a 15-year period.

 

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