Drop in fuel prices
Effective midnight, Barbadians will be paying slightly less for petroleum products.
The retail price of gasoline decreases from $3.62 to $3.57 per litre.
The price of diesel also moves from $2.87 to $2.78, down by nine cents; while the retail price of kerosene will be 14 cents less at $1.61, down from $1.75.
In a statement, Government also said that a mechanism was now in place to adjust petroleum prices in a more timely fashion. It explained that prices will be regulated by the Ministry of Commerce and Trade on the advice of the Division of Energy and Telecommunications.
“This mechanism is now in use and price changes will be more frequent (i.e., up or down) in accordance with the imported price of petroleum products,” the statement added. (BGIS)