{"id":195522,"date":"2024-02-14T15:37:41","date_gmt":"2024-02-14T19:37:41","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=195522"},"modified":"2024-02-14T15:37:41","modified_gmt":"2024-02-14T19:37:41","slug":"government-press-release-on-fuel-prices","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/government-press-release-on-fuel-prices\/","title":{"rendered":"Government press release on fuel prices"},"content":{"rendered":"
\"\"<\/a><\/div>
\"\"<\/a><\/div>

Ministry of Finance, Corporate Governance and Public Private Partnerships<\/span><\/strong><\/p>

\"\"<\/div>\n

\n

PRESS RELEASE <\/span><\/strong>Fuel Price Mechanism\u00a0<\/span><\/strong><\/p>\n

\n

The Ministry of Finance and Corporate Governance hereby announces the implementation of a refined pass-through mechanism for fuel prices to achieve the 2024 budgetary target for consumption tax revenue. This is part of the Government\u2019s strategic initiative to bolster fiscal resilience through enhanced fiscal performance.<\/span><\/p>\n

\n

The intention is to ensure increased transparency and predictability regarding the partial pass-through of international oil price changes.
\n<\/span><\/p>\n

This pricing mechanism will allow the Government to continue providing subsidies for certain petroleum products and support vulnerable segments of the population while maintaining some level of revenue assurance.<\/span><\/p>

\"\"<\/a><\/div>
\"\"<\/div>\n

\n

Despite the recent increase in the cost of gasoline and diesel, as reported by the West Indies Oil Company (WIOC), the Government has opted to maintain the retail prices at the pump. The pricing structure for gasoline and diesel, along with the margins for WIOC, inland transport, and gas station dealers, will remain unchanged.<\/span><\/p>\n

\n

Effective Thursday 15, February 2024, fuel prices will be as follows:<\/span><\/strong><\/p>

\"\"<\/a><\/div>\n