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ARCHIVED - Liquefied gas prices shoot up in Spain
Gas is the latest in a long line of skyrocketing costs in Spain
There is yet more bad news for consumers in Spain as the price of liquefied petroleum gas (LPG) is set to join electricity and fuel with skyrocketing prices this week. As of Tuesday October 19, the cost of gas will increase by 12.7% after tax, rising to 104.17 euros per kilo.
The inflated price is due primarily to the soaring cost of propane on the global market, which has risen by 25.91%, and butane, which has increased by 10.55% in the last month alone.
On the third Tuesday of each month, a new tariff for piped LPG comes into effect, which is approved by the Directorate General for Energy Policy and Mines.
The rate is made up of two terms: the term associated with the marketing costs is reviewed annually in July and the variable term associated with the price of the raw material (butane and propane), which is updated monthly based on the cost of freight and the international market.
LPG is a desirable product due to the fact that it can be piped directly to consumers without prior order, making it an ideal energy for small towns and villages that are located a distance away from the natural gas network. However, consumption of this liquid gas has seen a decline in recent years, dropping from 600,000 customers in 2010 to just 429,000 in 2020.
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