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The maximum retail price of a standard cylinder of butane gas in Spain will rise by 0.18% and cost 16.64 euros from this Tuesday 21 January, continuing the upward trend that started in September last year, according to a resolution published in the Official State Gazette (BOE).
Specifically, the increase in this latest bimonthly revision is due to a rise in the price of raw materials of 0.43% and freight prices (-1.18%) and the depreciation of the euro against the dollar (-4.1%), according to sources from the ministry for ecological transition.
Spain's consumers and users organisation OCU said the rise is an increase of 75 cents compared to a year ago, when it cost 15.89 euros. "This is an increase of 4.7% year-on-year, well above the average CPI," it pointed out. "In September the price of a cylinder went up by 60 cents, in November by 68 cents and now a little more, by 3 cents," it added.
The OCU said the main cause of the increase is the depreciation of the euro against the dollar, with a fall of 4.1%. "The devaluation of the euro, slightly higher than the fall in the international price of butane, has meant that the price we actually pay for the cylinder (in euros) has not fallen," it said.
What will happen in March? The price in two months' time will depend on the price of raw materials, freight, the exchange rate and marketing costs. "The forecasts are uncertain: if the annual butane price cycle is maintained, we will probably see a drop in the price of gas, but the value of the euro against the dollar is uncertain, because with a strong dollar, the price drop could become more complicated," the OCU said.
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