Bottled gas prices in Spain to go up again this week
The price of a canister of butane, or butano, will increase on November 19
It’s an irritating trend households in Spain are all too familiar with: as the winter sets in and the days become cooler, the price of butano, or butane bottled gas, starts to rise. This is a considerable strain on families, as most homes use these canisters for heating as well as cooking.
Nevertheless, following the latest review, butane bottles will indeed be going up in price again from Tuesday November 19. The maximum retail price will increase by 4.27% to 16.61 euros.
With the last review in September, bottled gas has already been hiked up by 3.85% to 15.93 euros, so this is unwelcome news indeed.
According to the Spanish government, the increase in this latest revision is due to a 9.05% rise in the price of raw materials, which is offset by a decrease in freight prices (-1.73%) and the slight appreciation of the euro against the dollar (+0.70%).
All of these factors combine to provide us with an updated market price for bottled butane every two months, on the third Tuesday of the month.
Bottled gas (LPG) is a type of fuel that's used as an alternative to natural piped gas in areas where it's not available. It's a mixture of hydrocarbons, mainly butane, that's stored in pressurised containers.
However, the use of LPG is declining. Between 2010 and 2021, the total amount of LPG consumed decreased by more than 25%. Despite this, 64.5 million LPG containers are still used every year.
To ensure that the cost of LPG is fair, the Ministry for the Ecological Transition and the Demographic Challenge is reviewing the formula used to calculate its price. This is because recent events, such as the Covid-19 pandemic and the conflict in Ukraine, have had a significant impact on the economy.
The Ministry has been gathering feedback from the public and industry experts since June and on November 5, it proposed a new formula for calculating the cost of LPG.
Image: Freepik
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