ButanGas: The LPG market will stagnate in 2010

ButanGas Romania, one of the leading players in liquefied petroleum gas (LPG) distribution, recorded a 24% turnover decline in the first nine months of this year against the similar time of last year, and does not expect an improvement in 2010. The company posted a 188.1 million-RON (44.5 million-euro) turnover in the first three quarters of the year, compared with 247 million RON (67.8 million euros) in the same period of last year. “The turnover reduction was generated by the cuts in retail prices,” explain representatives of ButanGas Romania. Compared with the first nine months of last year, this year the oil barrel cost much less, which also affected fuel sales prices, as well as LPG prices.