Belize - Belize News - - Great Belize Productions - Belize Breaking News
Home » Economy » International Energy Resources Ltd. and Kuylen’s Gas Service send out press release on LPG
Dec 13, 2019

International Energy Resources Ltd. and Kuylen’s Gas Service send out press release on LPG

The debate on butane prices continues. As you know, government enacted fixed prices on the commodity on November fifteenth to prevent predatory pricing; the move has triggered further discussions from both sides of the spectrum, those who support and those who do not. Today, a lengthy release was issued by International Energy Resources Ltd. and Kuylen’s Gas Service of the Gas Suppliers and Distributors. It is in response to a statement issued by the importers early this week which are identified as companies owned by three brothers. The Gas Suppliers make three points. First, they claim the three Mexican importers, currently supplying butane across the country, of selling below the fixed price resulting in unfair competition in the local L.P.G. market over the last few years. Second, according to the release which carries copies of receipts to prove their point, even after sending out a statement, the companies have remained non-complaint both in the wholesale and retail sectors selling below the fixed prices by as much as fifteen percent.  Third, the release states that the recent reduction in prices does not reflect the movement of international prices, as is claimed, but is a strategy to displace and replace the small L.P.G. distributors and gain a larger control of the industry. The Gas Suppliers acknowledge that setting a floor to consumer prices may not be a best practice in any market but say it is necessary when the suppliers, instead of competing in a free market environment, decide to collude against the consumer.

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.

Advertise Here

Comments are closed