Grenada, other nearby regions witnesses hike in fuel prices

Grenada: The Ministry of Finance, Economic Development, Physical Development and Energy has shared a notice on petroleum products price change.

The notice informed the public, “The General public is hereby informed that effective Monday, April 18, 2022, the retail prices of petroleum products (Gasoline, Diesel, kerosene and Liquefied Petroleum Gas (LPG) commonly known as Cooking Gas in the State of Grenada will be changed.”

As per the ministry, the changed price would be as follows:

Changed prices in Grenada

The price of Gasoline will remain the same – $15.00/IG and the cost of diesel will also remain the same, i.e. $15.00/IG.

On the contrary, the price of kerosene would increase to $14.51/IG from $13.77/IG.

The cost of a 20 lbs Cylinder will remain at $40.00 only, but the price of a 100 lbs Cylinder will increase from $287.95 to $299.40.

The bulk price will increase to 53.10/lb from $52.95/lb.

Changed prices in Carriacou

The price of gasoline and diesel would remain the same at $15.00/IG, and the price of kerosene will be $14.70/IG from $13.96/IG.

Changed prices in Petit Martinique

The price of dame Gasoline will decrease from $14.18/IG to $14.15/IG, and the price of diesel will increase from $14.23/IG to $14.35/IG.

The new cost of kerosene would be $14.70/IG, not $13.96/IG.

Price of LPG (Cooking Gas) in Carriacou and Petit Martinique

The cost of a 20 lbs Cylinder will be $49.00 only, and the price of a 100 lbs Cylinder would witness a hike, and the new price would be $310.95, not $253.75.

The bulk will cost $2.50/lb instead of $2.45/lb.

The new Retail Prices are computed based on the average FOB costs: that is (Ex-refinery prices) for the period from March 11 2022, to April 23 2022.

“Consumers are strongly encouraged to immediately notify the Price Control/Consumer Affairs until the Ministry of Finance of any instance of overpricing at telephone number: 440-1369,” informed the ministry.