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Sep 4, 2019

Bureau of Standards Will Have to Regulate Butane Prices at Retail Level

According to Canton, while the price of wholesale L.P.G. will be regulated, the Bureau of Standards will be responsible for ensuring that the cost of butane at the retail level remains affordable. 

 

Isani Cayetano

“So at the depot, all the players are going to be purchasing LPG at the same wholesale cost, however, if they decide to compete against each other that would be at the retail level?”

 

Dr. Gilbert Canton, Managing Director, NGLC

“At the retail level.  So what remains, because we have a fixed pricing methodology for wholesale price.  Like I explained to you how that is built up to that particular point.  Now what has to happen is that they have to have a methodology to see how they arrive at the retail price which, you know, is the margin that’s going to be allowed for distribution and the commercial aspect and retail, the selling of it.  Once that price is set that’s a margin that they can then compete within.  So that’s where the Bureau of Standards with little bit of help in the project and all the expertise and help can then fix that where it makes sense for everybody to create a level playing field on that aspect of it, the retail and distribution aspect of it.”

 

Isani Cayetano

“How does this, in any way, ensure or guarantee that what the consumers would be getting at the retail end would still be viable and still be something that is affordable to the masses?”

 

Dr. Gilbert Canton

Dr. Gilbert Canton

“When we ran the models, because of course we wouldn’t be doing this if it didn’t make any sense.  So when we ran the models we showed that we can build this facility, pay the financing fee to build this facility and still bring it in lower than what the imputed wholesale price was from the guys who are bringing it across the border.  There was a savings in there along for the consumers.”


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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