Barbados PM announces cap on gas prices

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Barbadian consumers will be paying less for gasoline and diesel come Friday, as Prime Minister Mia Mottley announced that the price of fuel at the pump will be capped for the next five months. CLICK HERE TO JOIN OUR WHATSAPP GROUP FOR NEWS UPDATES.

Gasoline will cost BDS$4.48 (US$2.24) per litre, while diesel will be BDS$4.03 (US$2.01) until January 31, 2023.

During a wide-ranging press conference on Monday, Mottley said the cap on the Value Added Tax on gasoline and diesel, which was put in place five months ago, would be kept in place.

“We are going to extend that cap at least until the 31st of January, and we are doing that recognizing that Barbadians do need to be shielded some more…. And while things are difficult even for the Government, we feel that we have an obligation to shield Barbadians more,” she said.

“We will now place a cap on the price of gasoline and the price of diesel at the pump and we will hold to that higher price until the 31st of January. To be very precise, if the prices fall below that cap, all of those reductions will be passed through to the consumer. If the prices go above that cap, the Government will hold the line and keep the cap in place.”

Prime Minister Mottley added that, periodically, Government would have to “make whole” the Barbados National Oil Company, the importers of the products.

She stressed that this adjustment was necessary to give some level of predictability to consumers and those people whose livelihood depended on gasoline and diesel.

Mottley pointed out that there had been a decline in prices, so Government was not capping at the highest possible price.

“The BDS$4.83 (US$2.41) at the pump that you are paying now for gasoline is at a far higher price than what is currently available and to that extent we will absorb the loss on that, because those prices were to have remained in place until the end of January. Since then there was a shipment that came in a little lesser; we believe that we need to cap it at the lesser amount…,” Mottley said.

The Prime Minister disclosed that earlier in the day she held discussions with Deputy Prime Minister Santia Bradshaw; Senior Minister Kerri Symmonds, who has responsibility for the Ministry of Energy, and the public service vehicle associations.

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15 COMMENTS

    • @Just Saying… nobody is confusing a liter with a gallon. Can your PM cap fuel prices at whatever cost per gallon? Give the masses anything, something. Stop being an USEFUL IDIOT for this government

    • @ Just Saying

      You are such a jack ass
      The point is: Mia Motley is providing relief for the Barbados people to ease the cost of living squeeze, something that YOUR WICKED PM AND GOVERNMENT WILL NEVER DO FOR ANTIGUANS.
      WHETHER ITS LITRE OR GALLON, THE POINT IS THAT THE FUEL PRICE WILL BE LOWER AND GOVERNMENT WILL BEAR THE LOSS IF THE PRICES RISE.
      Y THE HELL YOU MINIONS THINK WE ARE ALL STUPID LIKE YOURSELVES??
      THE WICKED ANTIGUA LABOUR PARTY HAS TO GO

      • So the government in Barbados is going to pull money out of thin air to subsidize this plan?

        Yeah right!!

        • @ Scott

          Look at you minions justifying high gas prices for poor people by ABLP……you guys are EVIL, WICKED AND HARD.

          YOU GUYS HAVE TO GO…..U DON’T LIKE POOR PEOPLE AND CALLING OTHER PEOPLE ELITIS YOU HYPOCRITICAL CRITTERS

      • @TANGLED WEB -You do realize that US$2.24 per liter means they (Barbadians) are paying 9.45 USD per gallon (UK)? In A&B its UK gallons you are getting Do you wish for Gaston to cap gas prices for the next year at 25.69 per gallon? Should he also place a sales tax on electricity and reduce it by 50% so we can pretend we are giving you back something? Seems to me based on your name that you enjoy deception

  2. Does the government in Barbados restrict the state oil company from selling elsewhere for a higher price?
    And it is possible that the government in Barbados “eats” the cost iverrun only to pass the loss on to the citizens through higher taxes and fees?
    Sounds like a “free lunch” to me.

    • @scott you do realize Barbabbians are paying 10.18 usd per gallon or 27.66 EC per gallon? We use UK gallons in ANU.

  3. @loveugly – thats terrible, I totally agree and with biden’s assault on oil and natural gas it’s only going to get worse.
    My point is that *somebody* somewhere on down the line is going to take the hit for the losses incurred in the price cap, like higher taxes, fees etc.

  4. @ poverty, please explain how my comment “justifies” high gas prices.
    With all due respect your comment borders on the absurd.

  6. I am all for this!! Great news BUT…..

    HOW WILL IT BE PAID FOR? Yes the government will adsorb the loss, BUT again…..it still needs to be paid and it’s the tax payers who will foot the bill.

Comments are closed.