Smoky BBQ Style Dipping Sauce

I love this dipping sauce. I've used this for steak fingers, steak, and even chicken. It's quick and easy to make and it will last in the fridge for quite a while. I have been making this for awhile now and honestly I can't remember where I even found the recipe in the first place.

Smoky BBQ Style Dipping Sauce
1 cup ketchup
1/4 cup packed brown sugar
2 tablespoons Worcestershire sauce
2 tablespoons yellow mustard
2 tablespoons distilled white vinegar
2 teaspoons onion powder
2 teaspoons garlic powder
1/2 teaspoon black pepper
1 teaspoon liquid smoke

Combine all ingredients in small saucepan. Bring to a boil; reduce heat to medium low and simmer, covered, 5 minutes. Serve hot or warm.