Government announces fuel price adjustments

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Government announces fuel price adjustments

PRESS RELEASE – Petroleum prices have been adjusted effective Monday, October 20 2014, to reflect changes in import prices of fuel products from July to October 2014.

While there have been slight decreases in the price of diesel, kerosene,  100lb LPG Cylinder and bulk LPG, the price of gasoline and the 20lb LPG and the 22lb LPG cylinders remain unchanged. The following is a schedule of the retail price of fuel products:

Petroleum Products        Old Retail Prices        New Retail Prices

Gasoline – $3.49 per litre or $15.85  per gallon     – $3.49    per litre or $15.85  per gallon

Diesel  – $3.34    per litre or $15.18  per gallon       – $3.33    per litre or $15.14  per gallon

Kerosene  – $2.57    per litre or  $11.68  per gallon –  $2.52    per litre or  $11.44  per gallon

100 Pound Cylinder LPG – $260.58 per 100 pound cylinder  -$255.94 per 100 pound cylinder

20 Pound Cylinder LPG – $36.93 per 20 pound cylinder  – $36.93 per 20 pound cylinder

22 Pound Cylinder LPG – $41.00 per 22 pound cylinder   –  $41.00 per 22 pound cylinder

Bulk LPG –  $5.57 per kilogram   – $5.47 per kilogram

Even with this price adjustment, the revenue collected on fuel is below the projected intake as announced in the 2014/2015 budget.

However, the Cabinet of Ministers has agreed to forgo the targets so as to ensure that the public can benefit from current reductions in the landed price of some petroleum products.

The next price adjustment will be due on Monday, January 12, 2015.

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9 COMMENTS

  1. This government just keeps fooling people with crap. Price of fuel is low, it should have been reflected by now. They keeping it that way to pay the nice, smile workers etc. They hit the UWP government while they were in opposition now it is worst with these jokers. I am frustrated with this government and their lies and deception.

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  2. The price of crude oil on the world market has dropped. Its been over two weeks. Yet still the price of fuel in this country does not reflect this. Who you'll fooling here???

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    • probably you need to learn more about the pass through mechanism which has been in place for quite a while now.

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      • Fuel is at its lowest in a very long time. I am wondering what is there to learn about the "Pass Through Mechanism". Has it changed for the worst as far as the customers are concerned?

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        • Pass through mechanism averages out prices for the last 3 months. An immediate decrease in price wont be reflected so soon.

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  3. Haven't heard much about the ALBA agreement for some time now. Anything new on that front and how it may help ease the petroleum prices for us?

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