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Jan 17, 2017

Why Butane Prices Went Up

If you purchased butane since the eleventh of this month, you would have noticed that the price went up big time. Last week the Bureau of Standards sent out a release to say that LPG – known to most as butane – would be seeing an increase of eighteen percent. The last time consumers saw a hike in price was back in 2015. Today, we spoke with Jose Trejo of the Bureau of Standards who says that the increase consumers are seeing is because of the global crude oil prices going up.

 

Jose Trejo

Jose Trejo, Director, Belize Bureau of Standards

“We’ve gone a considerable amount of time without adjusting the prices and for clarification as we did last week, the increase in the price is simply due to an exogenous factor. Crude oil is climbing; it’s now increasing and so by default, any oil derivative will increase. That’s the side effect of crude oil prices going up. As a result LPG prices have gone up for the month of January and the projections are…this is cyclical; it is seasonal in that LPG prices during the winter months tend to increase so it is a normal path. It is a normal path and this is as a result of that.”

 

Duane Moody

“So we can expect it to decrease as summer comes along?”

 

Jose Trejo

“That all depends on the markets. I am not a guru in terms of the markets, but I can tell you that the historical trend tells you that there are upswings and there are downswings. When the upswings and downswings occur, I can’t tell you exactly when they will occur.”

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Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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