Grenada LPG prices increase: $7.35 hike for 100 lbs cylinder effective February 18

Grenada announced a major hike of $7.35 in the price of 100 lbs. cylinder, effective from 18th February, 2025. The increase in the prices of LPG Cylinders is expected to affect the restaurants, hotels, and other dependent businesses for daily operations.

This increase in the prices of cylinders is also likely to pass some financial burden onto the customers as well. As per the details, a 100 lbs. cylinder which was of around $226.55 has now risen to $233.90 in Grenada. Similarly, the price of 100 lbs. cylinder in Carriacou and Petite Martinique has also increased from $249.55 to $256.90 in Carriacou and Petite Martinique respectively. 

The price of bulk cooking gas cylinders has also risen from $2.35 to $2.40 in both Grenada and Carriacou and Petite Martinique respectively. Meanwhile, no change in the prices of LPG Cooking Gas 20 lbs. cylinder has been observed, standing at $40.00 in both Grenada and Carriacou and Petite Martinique for several months. 

The Ministry of Finance of Grenada has also announced a slight increase in the prices of Gasoline and Diesel. The initial prices of these products were $14.09, $13.68 and $10.22 which has now risen to $14.72, $14.84 and $10.87. 

Ministry of Finance of Grenada on change in prices 

Shedding light on the change in the prices of goods, the Ministry of Finance of Grenada reiterated their commitment to continuing to monitor petroleum products prices. They emphasised on the revised prices and added that these are price-controlled goods, therefore, no retailer shall vary the stated prices. 

The Finance Ministry noted that they will only intervene when the change in the prices of the goods will exceed the limit of $17.00. They emphasised on the Petroleum Products Prices of Gasoline, Diesel and Kerosene in Grenada and Carriacou and Petite Martinique and added that they are fully coordinated in line with statements which were made by the Minister of Finance in his 2023 Budget Speech.

The new retail prices which have been announced by the authorities are computed. They are based on the average of the actual cost, freight, and insurance rates for Gasoline, Diesel and Kerosene. However, the mean Caribbean postings for cost were used over the period from 16th December to 10th January, 2025.