Rising petroleum products prices in Grenada, concerns public

Getting your Trinity Audio player ready...

St George, Grenada: The retail price of petroleum products, including Gasoline, Diesel, Kerosene and LPG in Grenada followed an upward trend. The increase in prices came into effect from Thursday.

According to the reports, the gasoline is sold at the price of $97 per gallon . The Ministry of Finance is continuously keeping the track on the petroleum product prices. The authorities will intervene if the prices will increase to $17.

Following are the changed prices of the cooking gas:

PRODUCT OLD PRICE/IG NEW PRICE/IG PRICE CHANGE
Gasoline $15.81 $16.76 $0.95 increase
Diesel $15.80 $15.09 $0.71 increase
Kerosene $11.99 $12.01 $0.02 decrease

 

In Grenada, the price of the LPG (Cooking Gas) for a 20lb Cylinder remains the same at $40.00, while the 100lb Cylinder was initially priced at $257.50 and is now available for $255.00. It has noted a decrease of $2.50. The bulk/lb prices remain unchanged and stick to $2.65.

In the 2023 Budget presentation speech, the Ministry of Finance stated that the petroleum product prices of cooking gas were fully balanced as some of them experienced an increase, while other saw a decrease to its cost.

Notably, the new retail prices are completely computer based, which were based on the average of its actual price, insurance rates, distribution capacity for Gasoline, Kerosene and Diesel.

Cooking gas prices for Grenada, Carriacou, and Petite Martinique.

PRODUCT OLD PRICE/IG NEW PRICE/IG PRICE CHANGE
Gasoline $15.81 $16.76 $0.95 increase
Diesel $15.80 $15.09 $0.71 increase
Kerosene $11.99 $12.01 $0.02 decrease

It is worth mentioning that the increase or decrease in petroleum products are priced-controlled goods and retailers are not allowed/ supposed to change or add their mark-up to the prices.

Furthermore, the consumers are encouraged to immediately report to the Price Control/ Consumer Affairs Unit in the Ministry of Legal Affairs if they come across overpricing in the cooking gas prices.

Additionally, it has been observed that the people of Grenada are not satisfy with the increase in the petroleum products. They expressed their frustration regarding the hike in the prices. One of such comments read as,

“Just spend money like crazy and increase prices all over to pay national debt. May the lord be with you all”, quoted one FB user.

Ana Allen
Ana Allenhttp://writeups24.com
Anna Allen, news writer at Writeups24, is a Harvard graduate with a passion for journalism. With her keen eye for detail and insatiable curiosity, she captures the essence of global stories. Anna's writing informs and delves into cultural nuances. To reach Anna, you can email contact@writeups24.com

Advertisement

Related Articles