Price of fuel at pumps in Antigua and Barbuda will remain same: Govt

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Antigua and Barbuda: Prime Minister Gaston Browne announced that the fuel price at the pumps in Antigua and Barbuda would remain the same, despite the Russian Invasion of Ukraine. The Cabinet held the discussion on the topic on March 25, 2022 (Friday).

The government of the region informed that the price of oil in the world market has been witnessing an upward trend, reaching USD 120.00 per barrel.

The government of Antigua and Barbuda stated that all nations across the globe have been increasing the rates, but Antigua and Barbuda administration has decided to cap the price at the earlier rates. The government has been using less Consumption Taxes; it has just collected only $1.7 million for the month of March. It is worth noting that prior to the recent rise, fuel price at Antigua and Barbuda was the lowest in the OECS.

Therefore, the price of the fuels will remain unchanged at US$15.70 per gallon for gasoline and US$15.50 per gallon for diesel.

Taxi, bus operators, and fisherfolk are soon to begin benefitting from the government’s twenty-five per cent (25%) fuel subsidy programme. A voucher system has been designed by the Antigua and Barbuda Transport Board, along with the Ministry for fisheries, that came into effect on March 24, 2022 (Thursday).

As per this arrangement, transportation service providers and fisherfolk will witness a 25 percent reduction in the cost of fuel.

Therefore, taxi and bus fares will be the same for people utilizing these services, and the price per pound for fish and other seafood should remain unchanged.

George Henry
George Henryhttp://writeups24.com/
George Henry, a distinguished graduate of Columbia University, pursued his passion in Economics with outstanding academic achievements. George found his calling in journalism, aiming to raise awareness regarding geopolitical and socioeconomic issues. He is recognized for having a keen interest in international geopolitics, sports and women's rights. To reach George, you can email contact@writeups24.com

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