Bottled gas prices shoot up in Spain once more
A regular gas canister will set you back 16.64 euros from this week
Starting this Tuesday January 21, the retail price of a butane cylinder, or bombona de butano, in Spain will increase by 0.18% to 16.64 euros, continuing the upward trend that began again in September last year.
The bi-monthly review of gas cylinder prices is based on the cost of raw materials (propane and butane) in international markets, the cost of freight transport and the evolution of the euro-dollar exchange rate.
This price review, whether upward or downward, is limited to a 5% change.
Specifically, the latest increase is attributed to a slight rise in the price of raw materials (0.43%) and the depreciation of the euro against the dollar (-4.1%), despite a slight decrease in freight prices (-1.18%), according to sources from the Ministry for the Ecological Transition and the Demographic Challenge.
Bottled liquefied petroleum gas (LPG) is a mixture of hydrocarbons, primarily composed of butane, and serves as an alternative to natural gas for energy consumption in pressurised containers, especially in towns and cities without access to the natural gas network.
Currently, 64.5 million LPG containers of various capacities are consumed annually in Spain. However, this fuel is in decline, with total consumption of bottled LPG decreasing by more than 25% from 2010 to 2021.
The latest increase in bottled gas prices in Spain reflects the ongoing challenges in the global energy market, with electricity prices also reporting a surge this week. Although electricity bills on the whole were 28% cheaper in 2024 than the previous year, consumers have a reason to be nervous.
Both gas and electricity prices depend on a number of factors, including the cost of raw materials and exchange rates, but the Ministry is attempting to mitigate against these fluctuations. Last November, the formula used to calculate the cost of gas cylinders was reviewed in response to various economic impacts over recent years, including the effects of the Covid-19 pandemic and the invasion of Ukraine.
Going forward, the goal is to update the formula so that it accurately reflects the costs of the sector.
Image: Archive
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