Loop News – Grenadians will be paying less at the pump for gasoline and diesel following a decrease in prices.
In its Petroleum Products Price Change Notice published on July 18, 2023, on the retail prices of petroleum products, the Ministry of Finance shared the following prices:
The Ministry of Finance notes effective January 18, 2023, a petrol tax of $3.50 is charged per imperial gallon of gasoline and diesel.
Effective January 18, 2023, the price cap of $15.00 on petroleum products expired.
The Ministry of Finance continues to monitor petroleum product prices and will intervene as necessary if prices exceed $17.00.
Petroleum Product Prices of Gasoline, Diesel, and Kerosene within the Tri-Island State of Grenada are now fully harmonised in line with statements made by the Minister of Finance in the 2023 Budget Speech.
The new retail prices are computed based on the average of the actual cost, freight, and insurance rates for Gasoline, Diesel, and Kerosene however, for LPG, the mean Caribbean postings (Platts) for cost was used over the period June 5, 2023, to July 3, 2023.
Petroleum products are price-controlled goods; therefore, no retailer shall vary the stated prices.
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