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Gas and diesel prices on the rise

Consumers are paying more for gasoline, diesel and kerosene, and less for liquefied petroleum gas (LPG) from midnight, Sunday, April 10.

The changes, which took effect on midnight on Sunday, saw the retail price of gasoline moving from $2.58 to $2.63, an increase of five cents per litre. The price of diesel will also rise from $1.77 per litre to $1.83, an increase of six cents, while kerosene will now retail at 83 cents per litre, an increase of two cents.

Meanwhile, liquefied petroleum gas (LPG) will retail at $150.56 per 100 lbs cylinder, a decrease of $1.34 cents. The price of the 25 lbs cylinder has dropped from $43.08 to $42.74, a decrease of 34 cents, while the 22 lbs cylinder will now cost $37.78, down from $38.07, which is 29 cents less. The new price of a 20 lbs cylinder is $34.34, 27 cents cheaper.

These adjustments in retail prices are due solely to changes in the cost, insurance and freight of these refined products.

Source: BGIS

2 Responses to Gas and diesel prices on the rise

  1. seagul April 11, 2016 at 10:56 am

    The Barbadian economy continues to face major challenges, including low growth, a very large fiscal deficit and a high debt burden. Real GDP is expected to decline by 0.6 percent this year, as slightly stronger tourism activity is offset by the impact of the government’s deficit reduction efforts. Inflation is expected to remain subdued and private sector credit growth weak. The decline in international reserves through most of 2015 was arrested in the first quarter with external borrowing in the December 2014–March 2015 period, and reserves have remained over US$500 million (3.3 months worth of imports) since. The central government deficit in the fiscal year 2014/15 is estimated at 12 percent of GDP, higher than projected owing mostly to un-budgeted transfers to public enterprises, including to reduce arrears. Central government gross debt, excluding securities held by the National Insurance Scheme, rose to 96 percent of GDP at March 2015.
    The need for fiscal consolidation is urgent. The authorities agree and have implemented most of their announced budget measures. Follow up is essential to ensure that these measures produce material results in the near term to lower the government’s financing needs. Slippages should be met with offsetting actions in order to meet budget targets. I hear educated Barbadians complaining that their current government is full of incompetents. That may be true, but these politicians haven’t wreaked havoc on the place. In fact, it’s so not wrecked that other Caribbean people would want to take their chances here than in their own little rocks.
    So, with a whole day of observation, let me say I don’t see the dismantling of the economy….UPM Unity People Democracy.
    ty-Ajani-griffith Books.

  2. Veroniva Boyce
    Veroniva Boyce April 11, 2016 at 11:38 am



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