Antigua and Barbuda records decrease in gasoline and increase in diesel prices

Antigua and Barbuda: A decrease in the cost of gasoline and an increase in the cost of diesel has been reported at the WIOC (The West Indies Oil Company). For gasoline, decrease has been recorded with 1% and for diesel, increase of 9% has been recorded.

Such a change in the prices of gasoline and diesel at the pump have raised concern among the population of the country. Considering this, the government has decided to maintain the retail prices at the pump.

According to reports based on the refined pass-through mechanism for fuel prices which is taken into account revenue assurance, price stability and maintenance of subsidies for certain petroleum products.

The office of the Prime Minister of Antigua and Barbuda has also shared the list of the prices for gasoline, diesel and LPG which will be effective as of February 28, 2024. The list to the prices is as follows:

• Gasoline – $13.99 per gallon
• Diesel – $14.25 per gallon
• 20 Pound LPG – $32 per bottle
• 25 Pound LPG – $40 per bottle
• 100 Pound LPG – $155 per cylinder

The current average regional prices for gasoline and diesel are $15.36 and $15.88 orderly. And, the regional prices for 20 pound and 100 pound cylinders of LPG are $38.58 and $200.36 respectively.

As the government of the country has made the decision to maintain retail prices, the subsidies have been announced. The authorities have continued to provide the subsidies to support the affordability for consumers. The list to the amount for the subsidies is as follows:

• In the case of 20 Pound LPG, a subsidy of $5.16 will be provided per bottle.
• For 25 Pound LPG, the amount of subsidy provided will be $6.45 per bottle.
• In the case of 100 Pound LPG, a subsidy of $17.64 will be provided per cylinder.

Significantly, no margins have been declared for the West Indies Oil Company (WIOC), inland transport and gas station dealers. The margins for the same remain unchanged.