{"id":195651,"date":"2024-02-17T17:57:52","date_gmt":"2024-02-17T21:57:52","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=195651"},"modified":"2024-02-18T09:37:57","modified_gmt":"2024-02-18T13:37:57","slug":"former-lecturer-warns-of-potential-fuel-price-hikes","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/former-lecturer-warns-of-potential-fuel-price-hikes\/","title":{"rendered":"Former Lecturer Warns of Potential Fuel Price Hikes"},"content":{"rendered":"
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Source: Real News Antigua-<\/strong> Former university lecturer Dr. George Daniel says he is not impressed with a press statement, issued by the Ministry of Finance, about the Government\u2019s continued subsidy of fuel and related products.<\/p>

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On Wednesday afternoon, February 14, the Ministry announced the implementation of a \u201crefined pass-through mechanism\u201d for fuel price, which is meant to ensure the Government meets its 2024 target for consumption-tax revenue.<\/p>\n

The Browne Administration brands this a \u201cstrategic initiative to strengthen fiscal resilience\u201d and to ensure increased transparency and predictability when international oil prices change.<\/p>

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Recently, the West Indies Oil Company (WIOC) announced price increases; but the Government has opted to maintain the retail prices at the pump, the release said.<\/p>

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\u201cThe pricing structure for gasoline and diesel, along with the margins for WIOC, inland transport, and gas station dealers, will remain unchanged,\u201d the statement says.<\/p>\n

Hence, effective Thursday, February 15, the price for gasoline is $13.99 per gallon while diesel is $14.25 per gallon.<\/p>

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The 20-pound LPG remains at $32 per bottle; the 25-pound LPG at $40 per bottle; and the 100-pound LPG at $155 per cylinder.<\/p>\n

According to the Government, in order to support consumers, it will continue to provide subsidies of $5.16 and $6.45 per bottle and $17.64 per cylinder, respectively.<\/p>

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However, Dr. Daniel points out that the prices quoted have been in place for some time now.<\/p>

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Further, he says, the Administration is simply continuing the practice that has been in place for decades: That is, when prices on the world market go up, the Government would provide subsidies to cushion the consumer from the full effect.<\/p>\n

<\/figure>\n

The former lecturer believes that \u2013 with this press release \u2013 the Browne Administration is testing the waters to gauge the public\u2019s reaction before it actually increases the prices of fuel and LPG
\nproducts.<\/p>\n

Because, he says, the Browne Administration is looking to wring revenues from whatever sources it can.<\/p>\n

The question persons should be asking is \u201cby how much\u201d prices will go up when the time comes, Dr. Daniel says.<\/p>\n

At that time, he adds, he is confident that the hikes will be blamed on the pass-through mechanism \u2013 which, ironically, the Administration failed to implement when oil prices were going down.<\/p>\n

Dr. Daniel reminds consumers that when fuel prices dropped during the COVID-19 pandemic, the Government made a killing on consumption tax \u2013 amounting to about 200 percent in taxes from gasoline and diesel \u2013 while the people did not benefit.<\/p>\n

He is expecting that when the next shipment of fuel arrives in Antigua and Barbuda, there could be another announcement of an increase in fuel prices.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Source: Real News Antigua- Former university lecturer Dr. George Daniel says he is not impressed with a press statement, issued by the Ministry of Finance, about the Government\u2019s continued subsidy of fuel and related products. On Wednesday afternoon, February 14, the Ministry announced the implementation of a \u201crefined pass-through mechanism\u201d for fuel price, which is […]<\/p>\n","protected":false},"author":3,"featured_media":195652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-195651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nFormer Lecturer Warns of Potential Fuel Price Hikes - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/former-lecturer-warns-of-potential-fuel-price-hikes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Lecturer Warns of Potential Fuel Price Hikes\" \/>\n<meta property=\"og:description\" content=\"Source: Real News Antigua- Former university lecturer Dr. George Daniel says he is not impressed with a press statement, issued by the Ministry of Finance, about the Government\u2019s continued subsidy of fuel and related products. 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