Belize - Belize News - Channel5Belize.com - Great Belize Productions - Belize Breaking News
Home » Economy, People & Places » Attorney for Former Importers Denounces LPG Increase!
Oct 7, 2020

Attorney for Former Importers Denounces LPG Increase!

On Tuesday, the Belize Bureau of Standards announced a change in the price of butane that became effective today. The new fixed controlled price for Liquefied Petroleum Gas for wholesale is now at two dollars and seventy-six cents; while retail LPG goes for four dollars and thirty-six cents in urban areas and four dollars and forty-six cents in rural areas. A release says the increase seen in October is due to fluctuations in acquisition prices. The former importers – the Central American companies of BWEL, ZETA and TOMZA – are lashing out about the price increase. They did so today via their attorney Audrey Matura.  Today she told reporters that prices for consumers are increasing but that the international price has remained stable in recent months.

 

Audrey Matura

Audrey Matura, Attorney-at-law

“The government, the Belize Bureau of Standards, sent out new prices for LPG and shockingly they increased it by nine cents on each dollar and that not might seem much when you hold it alone but when you hold it on each gallon that you buy nine cents multiples but when you add it on the millions of gallons that the national gas company is selling then you are talking hundreds of thousands of dollars. But that nine cents is critical for you all to put into perspective and I pulled up the chart so you all know what is the international price. They determine the price based on the international price and Mont Belvieu is the place to go to see what the international price is. From the month the monopoly started the international price hasn’t gone beyond fifty-one cents and I am tracing it right here. Fifty-one is the highest it has been, yet every month they increase price. When we look at where we were on august thirty-first the price had been that they had issued was the price they announced on fifth of September which was two dollars and sixty-seven cents per gallon – that is wholesale because we deal with clients who deal with wholesale. Since then, they have increased it to now two dollars and seventy six cents that is the nine cents difference. Key to it is that the government had said and the prime minister had said is that there is this oligopoly and he wanted to dismantle it and it would be good news to the consumers because there would be better prices but there aren’t better prices.  The retail price now has gone up massively – the retail price to the consumers goes up by ten cents each time – if you are in rural it is ten cents more than in urban areas. So, as of yesterday, the price has gone up to four dollars and forty-six cents and you have to take that and take away the two dollars and seventy-six cents and you will see that the increase is by almost a dollar and fifty cents.  If we are at two point seven six minus the two twenty-six that is fifty cents in less than about five months in fifty cents that has gone up. The wholesale price is important because based on the wholesale price they do the retail price and the justification for the retail price is oh we have to put all our expenses.”


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