World oil prices have been going down - but the controlled price of Liquid Petroleum Gas - which we commonly call butane, has remained constant.
That is until tomorrow - when it takes a huge dive.
The controlled price is going down by thirty dollars per hundred pound cylinder across the board! So, in Belize City where the price of a hundred pound cylinder is $126.00 dollars - that will now be $96.00 for basic butane.
For the high grade butane imported from Mexico - which currently sells for $133.00 dollars in the city - that price is going down to $103.00.
The agreement was reached today in a meeting between the Ministry of trade and the Butane importers. The Ministry demonstrated to them that acquisition prices have been trending down for some months - which allowed them to recover from the period when it was high.
We understand a few hard words were exchanged but the meeting produced accord and the new slashed price goes into effect tomorrow.
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