Gasoline & Diesel prices reduce in SVG, know details

The government of St Vincent and the Grenadines (SVG) has announced new prices of Gasoline and Diesel for the general public of the country.

The residents of SVG experienced a reduction in the prices of fuel products from February 19, 2024. The slash in the prices has provided relief to the customers.

According to the reports, petrol prices at the pumps were quietly dropped by $1.50. The petrol prices per gallon saw a reduction of %15.56, also the diesel prices fell to $14.25 on Monday, February 19.

However, in October 2023 petrol was sold to $17.06 per gallon and diesel amounted to $15.26 per gallon and the low-sulphur diesel was noted at $16.98 per gallon.

Initially, vehicle owners were not satisfied after learning about an increase in the prices of diesel and gasoline. Keeping this in mind, the authorities reduced the price of fuel and commodities.

Following the increase in prices of fuel in October, the St Vincent Electricity Services Limited (VINLEC) increased the fuel surcharge. The prices of petroleum products have decreased from the revised prices announced in October 2023.

“The new rate is $0.6530 per kWh, an increase of $0.11 from last month’s rate of $0.5419 per kWh.  This change in fuel surcharge rate was directly related to the increase in diesel purchases by VINLEC in September as well as the reduction in power generation at hydro-stations due to unseasonably low rainfall”, added VINLEC.

People across the country were happy after knowing the new prices of petrol, and diesel. The authorities have taken this step to ensure the betterment and well-being of the people. People will be able to save money as new prices are revealed.

Reduction of prices of fuel is likely to play a crucial role in protecting the environment and controlling air pollution as it will reduce the consumption of harmful gases and emissions by the people.