Antigua and Barbuda government reduces fuel prices in region

Antigua and Barbuda: The government of the country has provided relief to the general public. As per the latest announcement, the fuel prices in the region will witness a reduction.

The announcement was made public on April 21, 2022 (Thursday). The prices will be changed from April 22, 2022 (Friday) from 12 am onwards.

Major changes would be seen in gasoline and Diesel; the prices of gasoline are reduced by 55 cents and 27 cents for Diesel. A gallon of gasoline will now cost $15.15, from $15.70, while diesel prices will fall to $15.23.

While describing the recent shipment of refined petroleum products, the West Indies Oil Company stated that the recent shipment witnessed a reduction the cost. The government passed this reduction to vehicle users and motorists.

The reduction has been witnessed after the protest against the sudden increase in fuel prices in the Caribbean country. The protest was carried out following the hike on March 14, 2022. After the protest, the government promised that there wouldn’t be more hikes.

The fuel prices witnessed a hike after the Russia and Ukraine war, and energy prices have been marked by volatility in the wake of Russia’s invasion of Ukraine. This increase in fuel created shockwaves in the global energy markets and resulted in an increase in prices of food prices as well across the globe.

The Russia and Ukraine war has caused an increase in the global prices of petrol and Diesel, starting an outcry against inflation. The Caribbean countries faced the same, and sudden increases in prices of fuel, food products and other daily use items were witnessed. Recently, Grenada’s government announced an increase in the prices of fuel and cooking gas.