No increases on Retail Prices of LPG used for cooking gas
23 January, 2021, Port-of-Spain: On Tuesday 19th January, 2021, Senator the Honourable Franklin Khan, Minister of Energy and Energy Industries, addressed the Senate to provide specific details on the upcoming liberalization of the fuels market. The discussion covered, among other matters, the topics of LPG subsidies and the retail price of LPG tanks used for cooking gas. The statements made by Minister Franklin Khan in relation to the international prices of LPG were to reiterate that the retail price of LPG on the domestic market is heavily subsidized.
The Ministry of Energy and Energy Industries wishes to advise that ONLY the pricing mechanism at which the National Petroleum Marketing Company Limited (NPMC) purchases LPG for supply to the local market is being considered for adjustment at this time so that it is reflective of market prices on an ongoing basis. When this pricing is adjusted, NPMC will continue to provide LPG to the local market at a significantly lower price than the purchase price. In this regard, the anticipated extra cost for LPG will continue to be borne by the Government of the Republic of Trinidad and Tobago by way of the Petroleum Production Levy and Subsidy Act, and will not be borne by the general public.
As such, the Minister of Energy and Energy Industries hereby wishes to assure the general public that the retail price of LPG tanks used for cooking gas will remain at the current price of TT$21.00 for a 20lb tank and TT$105.00 for a 100lb tank (plus $25 for transport and handling costs for the 100 lb cylinder).