Puma Energy driving down LPG prices, company says
Puma Energy’s entry into Puerto Rico’s liquefied petroleum gas market late last year has “had a positive impact on the price of the product commercially,” Julio Martínez-Colón, sales manager of the company’s LPG division, said Wednesday.
Puma Energy entered the LPG business in mid-November 2014 with prices that represent a reduction of about 25 percent of what was going on the market prior to its arrival, he said.
“We anticipate that our entry into this market will benefit businesses, industries and ultimately consumers,” Martínez said, noting Puma’s growing commercial sector customer base.
“There is a movement to reduce prices, caused by the competition Puma Energy has generated. Our prices are more competitive, because they are more aligned with the reality of the international LPG market, so our company offers a more attractive alternative for customers,” he said, adding that Puma Energy’s LPG product meets “HD 5” specifications, the industry quality standard for this product.
Puma Energy has invested a total of $46 million in the installation of LPG facilities at its terminal in Bayamón, and has the capacity to store 4.2 million gallons of liquefied petroleum gas.