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Price adjustments for LPG seen in February
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Posted on Jan 20 2005
Despite decreases in world crude prices, local prices of liquefied petroleum gas have remained at pre-holiday levels, but Saipan’s distributors foresee adjustments possibly by February.
The two competing LPG distributors on Saipan, however, predict contrasting adjustments, with Wushin Corp. disclosing a possible rollback and Saipan Industrial Gas Inc. predicting an increase. Both companies stressed, however, that these predictions are not final yet.
For Wushin Corp., the price of 90-lb. LPG remains at $75. The company sells 50-lb- and 20-lb-LPGs at $44 and $20, respectively. Wushin hiked LPG prices in early December.
Wushin general manager Enoch Sungsoo Lim said that suppliers are forecasting a drop in prices by February. However, he also said that demand for LPGs is high during the winter season, an economic factor that may push up prices.
Saipan Industrial’s operations manager Noli Constante said that the company might increase LPG prices by February, but stressed that no final decision has been reached yet. He said the company has made no price adjustment since November 2004.
“Our price is determined mainly by the world market,” Constante said, adding that freight costs and taxes affect local pricing of LPG.
Saipan Industrial sells 90-lb.-, 40-lb.- and 20-lb.-LPG’s at $72, $36, and $20, respectively.
