Ministry of Finance, Corporate Governance and Public Private Partnerships
PRESS RELEASE Fuel Price Mechanism
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’s strategic initiative to bolster fiscal resilience through enhanced fiscal performance.
The intention is to ensure increased transparency and predictability regarding the partial pass-through of international oil price changes.
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.
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.
Effective Thursday 15, February 2024, fuel prices will be as follows:
- Gasoline: $13.99 per gallon
- Diesel: $14.25 per gallon
- 20 Pound LPG: $32.00 per Bottle
- 25 Pound LPG: $40.00 per Bottle
- 100 Pound LPG: $155.00 per Cylinder
Additionally, to support affordability for consumers, the Government will continue to provide the following subsidies:
- 20 Pound LPG: Subsidy of $5.16 per bottle
- 25 Pound LPG: Subsidy of $6.45 per bottle
- 100 Pound LPG: Subsidy of $17.64 per cylinder
The refined fuel pass-through mechanism aims to strike a balance between fiscal responsibility and consumer welfare, ensuring a sustainable and equitable approach to fuel pricing.
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I sincerely hope that the distributors for 100 lbs gas cylinders will reflect the new price of $155
00 from the 15th of February and not charge the usual $175.00 per cylinder. Take note Kramm Distributors!
The LPG distributors have a $20.00 delivery charge…
That’s rather prudent on the government’s part. I hope that people will recognize this compassionate decision by the cabinet. Oh noooo! The vulchers are waiting to make their negative comments soon. Ready, set, GO!
If we have major shares, don’t you think that it should be even cheaper? By the way, what are vulchers? I thought that you were infallible.
@dave ray: you no lib yah so go head enjoy the American price market and stop put vinegar in the Antiguan/barbudans wound just for your pay, you are a political tourist, the other day I was in Abaco Bahamas when a lady mentioned you, I just had to let her know the dire condition you back Gaston in making barbudans landless by white monopoly capital domination.
@Dave Ray: You are living in a high Welfare State.They would taxed you from the cradle to the grave.I heard your Mayor bawling the other day.They were spending too much on Immigrants in NYC.That is what would happen when you are Sanctuary City.You are paying for that in that WELFARE CITY.Gasoline is $13.99 in Antigua.That is very high.I am paying US$ 1.99 per gallon for gasoline,where I am living.
What’s your point exactly, Mr. Anonymous?
While the nay sayers claim the sky is falling, the government continues to do its best to hold back costs to consumers. The release from Saint Lucia 3 days ago, makes clear that gasoline price there remains at 16.50 per gallon. GB, keep justifying why we put you there.
“The retail price of Gasoline, Diesel, Kerosene, the LPG 20 lb and 22 lb cylinders remains unchanged. The price changes take effect from Monday, February 12th, 2024.
Gasoline remains unchanged at $3.63 per litre or $16.50 per gallon.
..
”
see https://stluciatimes.com/161553/2024/02/fuel-price-adjustments-announced-for-saint-lucia
What was really the purpose of of this? To tell us you will continue to leach the citizens of this country?
What gall and severe lack of conscience to even mention “transparency ” in the same sentence coming from Gaston Browne.
While we’re at it Gaston Browne and you’re mentioning “transparency,” release the audited financial reports as specified by law. Release the audited reports on NAMCO. Give us a list of ALL the monies and goods you received for the Barbuda relief. What did you do with the million US you received from Morgan et al and the 500 thousand US from the Spanish diplomat?
I expect no response, but you never know with a narcissist.
Stay focused. We’re on the topic of fuel consumption only. Not your usual rants. Be thankful that the fuel will remain the same for now and that subsidies are still being offered to relevant groups.
@dave ra6 u nor live ya ßo tap out. It seems like you are siñging for something. Shut to f up and mind the business where you are living. U disgusting now always chatting shit. Go find something constructive to do.
@Dexter Pelle. The price originally was $155.00 which included the delivery charge fok the 100lbs cylinder cooking gas but since the pandemic it went up th o $175.00. Now that the government has set the price back to its original state then the price should be $155.00 straight across t by e board.
@Dave Ray, usually, I disregard you. Unless you’re not defending this incompetent, bad-minded, narcissistic clown, you have nothing to say. Rantings? Hey you don’t live here so you can chat your BS.
You are so reminiscent of Trump supporters. Trying to defend the indefensible.
What, it’s not enough to raise ABST, SS, now the economic dunce wants to raise fuel to?
“Transparency “a mutually exclusive term when paired with ALP, was mentioned in the article. I merely suggestted some other things that needed “Transparency ” Guess that was out of your capacity for extrapolative reasoning.
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