On Thursday, July 19th, the Ministry of Trade, Investment Promotion, Private Sector Development and Consumer Protection announced that it has negotiated a significant decrease in the retail price of Butane to the public.
Effective Friday, July 20th, the retail price of Butane was reduced by $30 per 100 pound cylinder.
Depending on where you live, the price of butane imported from Mexico, which is a higher grade will sell between $104 and $109. The cheapest price being in Belize City and Corozal and the most expensive being in Punta Gorda. Cheaper butane imported from Central America will retail between $97 and $102. Again, Belize and Corozal being the cheapest and Punta Gorda being the most expensive.Â
The reduction in the price of the commodity is as a direct result of a meeting between butane suppliers and representatives from the Ministry of Trade, Investments, Private Sector Development and Consumer Protection. The ministry was successful in convincing importers to reduce the price of butane since there has been a general downward trend in the global market price for natural gas. According to a press release, “the Ministry took proactive steps in engaging the suppliers, and it was determined that they were able to pass some of these accumulated savings to the consumers.”
Also discussed in the meeting were the new standards that Butane suppliers should follow when a new Statutory Instrument is implemented by the end of August. The release states “these standards will govern many aspects of the Butane industry with a heavy focus on consumer safety and product quality, with the expected result being greater value for money for the consumer.” Butane suppliers were also informed that they must continue to adhere to legal requirements in the use of scales when selling butane.
The most recent negotiations with the butane importers once again signals the government’s commitment to reduce the cost of living to Belizeans. In fact the release announced that it, “will be engaging in similar meetings with vendors of basic commodities to ensure the best prices and service to the Belizean public.”
