Fuel prices drop
The prices of gasoline, diesel, kerosene and liquefied petroleum will fall, effective midnight tonight.
The retail price of gasoline will move from $2.71 per litre to $2.69 per litre, while the price of diesel will drop from $1.89 per litre to $1.82 per litre. Kerosene will now retail at 80 cents per litre, down from 95 cents. These represent decreases of two cents, seven cents and 15 cents per litre respectively.
Meanwhile, liquefied petroleum gas (LPG) will retail at $152.24 per 100 lb cylinder, a decrease of $1.24. The price of the 25 lb cylinder has dropped from $43.47 to $43.16, a decrease of 31 cents, while the 22 lb cylinder will now cost $38.15, down from $38.42, which is 27 cents less. The new price of a 20 lb cylinder is $34.68, 25 cents cheaper.
These adjustments in retail prices are due solely to changes in the CIF (cost, insurance and freight) of these refined products.