In keeping with the Modified Market Pass Through Mechanism introduced in May 2012, the public is hereby notified of the following increases in the prices of fuel products for the period Monday, November 5, 2012 to Monday, January 27, 2013.
Gasoline from $3.25 per litre to $3.41 per litre ($14.77 per gallon to $15.49 per gallon);
Diesel from $3.25 per litre to $3.38 per litre ($14.77 per gallon to $15.36 per gallon);
Kerosene from $2.54 per litre to $2.72 per litre ($11.54 per gallon to $12.38 per gallon;
100 pound LPG cylinder from $254.93 to $269.48;
Bulk LPG from $5.71 per kilogram to $5.92 per kilogram.
The price of the 20-pound LPG cylinder remains unchanged at $34.20
While the import prices of gasoline and diesel for the period July 23, 2012 to October 12, 2012 increased by 9.2 percent and 8.4 percent respectively, Cabinet has decided to absorb 30 percent of the increases in import prices for these two products.
By so doing, the excise tax rate on gasoline will be reduced from $0.3990 to $0.3315 per litre and $0.56252 to $0.5098 per litre of diesel. The tax rates on both kerosene and the 100 pound cylinder will be zero. In addition, Government will bear the full cost of the increases in the import price of the 20 pound LPG, resulting in an increase in the subsidy from $16.88 to $19.70.
Despite these increases, fuel prices in Saint Lucia remain among the lowest in the Eastern Caribbean countries for most products.
The next adjustment on retail prices of fuel products is expected to be on January 28, 2013.