The government of Antigua and Barbuda has been absorbing part of the impact of rising global fuel prices in an effort to limit increases in the cost of living, Prime Minister Gaston Browne says.
Chief Executive Officer of the West Indies Oil Company (WIOC), Gregory Georges, confirmed that a recent fuel shipment arrived at significantly higher prices, with the steepest increases affecting diesel and jet fuel as global energy markets tighten.
Speaking on his weekend radio programme, Browne said higher fuel costs typically drive up transportation, groceries and other imported goods. He noted, however, that gasoline in Antigua and Barbuda has remained at $14.25 per imperial gallon, with prices kept stable by reducing the amount of consumption tax collected on fuel.
“We have decided to take less taxes to maintain stability in the pricing,” Browne said, adding that the government also absorbed losses during previous global price spikes, including those linked to the war in Ukraine.
While he said the government intends to continue cushioning consumers, Browne warned that sustained global disruptions could eventually force price adjustments.
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Right after the election, the price will shoot up and WILL NEVER come back foam
Some how I feel that we are paying a high price for fuel already so you cannot afford to raise it … the master of illusion… you can fool some of the people some of the times but not all of the people some of the times ….
The Tribe, you hit the nail on it’s head. Election gimmick. The barrel of oil was in the sixties,and our price never goes down at the pump. Remember politicians and their siblings have a lot of shares in WIOC. People wake up !
Gaston, you are a pathological liar.
When did the new shipment arrive?
What was the cost of fuel before that new shipment?
What was the OECS agreed arrangement in relation to tazes on fuel?
At the price on the pump which has been there for a decade What was the cost of a barrel of oil?
Isn’t there a fixed price mechanism which should be inplace which your government is not recognizing? If the price is based on world market price what doesn’t our prices dip when oil is cheap on the world market?
Why does out prices only rise?
If you were to increase the price what would it be?
You see Gaston, you are not cushioning the price. The gas price is still above what it shoukd be per barrel.
Yet we have been paying that for a decade.
You have conveniently kept the gas price high to maximize your taxes.
So now the price is higher you would be most unconscionable person to place an additional tax burden on the people.
@ The Tribe
And they are lying. They have never absorbed any increase in fuel, and it’s only because of the ‘BUY ELECTION’ why it’s being done now, and also for the soon expected general elections.
These people will do ANYTHING TO STAY in power, but right after the elections I can assure you that the prices will be adjusted back upwards.