Thursday, 05 August 2021 04:26

Gas cylinder price hikes for the month of august

Written by Evelyn Alas

The Ministerio de Economía (MINEC), announced the variations in the prices of Liquefied Propane Gas, which have experienced an increase for this month.

The increases range from US$1.12 for 35 lb. presentations and up to US$0.81 for 25 lb. presentations.

The Government will maintain the subsidy for this month, which is US$5.85, so that a family that consumes 25 pound drums will only contribute US$8.04.

The maximum sales prices to the consumer will be as follows:

35-pound gas cylinder $19.36.

25-pound gas cylinder $13.89

20-pound gas cylinder $11.18

10-pound gas cylinder $5.72

According to MINEC, variations have arisen due to some international factors such as, for example, new agreements to increase daily oil production by the Organization of Petroleum Exporting Countries (OPEC); decrease in inventories of oil derivatives in the United States, according to reports from the International Energy Agency (IEA).

Compared to the previous period, the average variations for the month of july in the international prices of derivatives between butane and propane gas were +11.89% and +12.37%.

The Dirección de Hidrocarburos y Minas (DHM) of the Ministerio de Economía (MINEC), is continuously monitoring compliance with the price and exact weight at points of sale.

The population is called upon to denounce any non-compliance in the price of the cylinders, which according to Article 9-A of the Ley Reguladora del Depósito Transporte y Distribución de Productos de Petróleo, is the responsibility of the Ministry of Economy to set the maximum sale price of Liquefied Petroleum Gas (LPG) for domestic consumption while it is a subsidized product.