Wushin cuts LPG prices today

Wushin Corp. slashed the prices of its liquefied petroleum gas product today by $0.23 per gallon for both bulk and wholesale customers.

Starting today, customers will enjoy the following price decreases from the Lower Base LPG supplier:

– $4 for a 90-lb. LPG cylinder;

– $2 for a 50-lb. LPG cylinder;

– $2 for a 40-lb. LPG cylinder; and

– $1 for a 20-lb. LPG cylinder

The company’s decision to slash prices results in the cost of the 90-gallon LPG cylinder dropping from $106.50 to $102.50; the 50-gallon LPG cylinder from $62 to $60; the 40-gallon LPG cylinder from $52 to $50; and the 20-gallon LPG cylinder from $27.75 to $26.75.

The company said they are making the price cut after its main supplier in Guam also slashed its prices. But it cautioned that the price decreases may stop soon.

“We were notified by our main supplier of the price decrease last Jan. 9, 2009; however the delay of effective date was caused by the timing of shipment schedules. However, we cannot assure as to when the price of LPG will become stable since, based on our review, the trend of LPG prices in January is increasing in the international market.

Wushin’s price decrease follows the $0.45 per gallon cut it implemented last Nov. 27.

Price trends from Saudi Aramco shows that the cost of LPG is at its lowest levels.

March 2008, which is the earliest baseline month available, saw the bulk cost of propane at $820 and that of butane at $825. It was at its highest level in July 2008, when propane hit $905 and butane $950.

Prices began to dramatically decrease starting November 2008 when it was pegged at $490 for both propane and butane. Currently (December 2008) the bulk cost of propane is $340, while that of butane is $335.

Wushin also clarified that the price of LPG is not tied to the wet fuel price (diesel and gas), because “no matter what the pump prices [are], it will not determine the price of LPG except for the landing cost of which fuel price affects the cost of freight and handling, particularly fuel surcharges.”

Wushin is a wholesaler of LPG for commercial purposes, sells LPG cylinders for residential customers, and is a retailer of LPS accessories. The company also offers LPG connection and installation services.

For more information about Wushin, call 322-7415 or 322-8733.