This reduction applies to both domestic and commercial sectors.
The new prices per cylinder gas bottle are as follows:
4.5kg is now R83.25; 9kg R166.50; 12kg is R222.09; 24kg is R444 and 48kg is R888.
The chief executive of Seypec, Conrad Benoiton, explained that the reduction in price follows the new agreement that it has signed with its LPG supplier (Petredec), along with favourable conditions such as a lower exchange rate of the dollar to the rupee as well as a decrease in price of petroleum products globally.
He said Seypec has been in touch with its 110 stockists or distributors across the country and have informed them of the price change which takes effect today.
It is to be noted that Seypec has two filling plants located at its New Port and Praslin depots which in total holds 2,300 MT of LPG, in 12 bullet tanks.
Seychelles’ consumption of LPG stands at 4,500 MT per year and currently LPG is distributed both through cylinders and Seypec’s bulk LPG trucks.
At present over 80% of LPG is distributed through the over 89,000 LPG bottles in circulation in the country.
Mr Benoiton also noted that LPG prices is not changing every week as the product is imported in bulk and any change in prices will be notified one week in advance.
But he pointed out that as Seypec imports quite a small bulk of LPG compared to the suppliers’ normal amount that it trades with, it is more difficult to negotiate a price.
As for fuel, Mr Benoiton said the structured negotiations Seypec has with its suppliers allows the company to re-examine its prices every three months on account of the volume that it takes and also the pricing structure implemented with that.
“So in the month of April we will be re-examining the international pricing index and we anticipate that the Seychelles rupee rate exchange will continue to be favourable so that we can pass the benefits on to our consumers,” he said.