The Public Services Regulatory Authority (ARESEP) dismissed a â‚¡50 increase in the per-liter price of cooking gas requested by local company Gas Nacional Zeta.
The request represented an 88 percent increase in the profit margin earned by gas distributors, who currently make â‚¡57 on every liter they sell.
ARESEP said in a press release that the request was rejected for lack of information from gas companies.
Gas distributors “failed to submit financial reports required by ARESEP, and this prevented the precise calculation of profit margins,” the agency explained.
ARESEP’s Energy Administration said gas firms can submit the financial report at any time and file a new hike request, but also urged the Environment Ministry to take all necessary measures to monitor the optimum conditions of gas containers as well as transport methods used by these companies.
