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Prime Minister Dr. Kenny Anthony said he disagrees with the United Workers Party (UWP) suggestion that Saint Lucia should return to the system, where the price of fuel was fixed each month.
The prime minister told the media that it could have serious consequences on the economy, which will not only cause constant fluctuation in prices, but could possibly affect the productive sector.
He was quoted in the local media saying that if Saint Lucia is to return to that system, then citizens will have to adjust to the “highs and lows”. The reason for this is, because world oil prices are constantly changed.
Dr. Anthony said since the three-month period has been introduced, it has brought some stability in fuel prices. The prime minister also noted that while there have been a significant decline in the price for oil, it is not clear how long it could last.
Meanwhile, Saint Lucia Labour Party Public Relations Officer, Winston Springer Senior, told HTS News Force in a recent interview that it was under the UWP government that excise tax was increase by $3 dollars per gallon on gasoline and diesel.
According to him, since 2011 the excise tax on gasoline and diesel has been reduced by 50 cents. “The lower excise tax put in place by the SLP administration helped to create a buffer to the continued rising international oil prices.”
The price of gasoline was declined recently from $15.85 per gallon to $13.64. This will yield a reduction of $2.21 per gallon. The price of diesel will fall from $15.14 to $13.21 a gallon, a saving of $1.93 a gallon.
The next fuel price adjustment is due on April 5, 2015 and will be determined by the landed cost of these products over the review period.
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