Changes in petroleum prices

Barbadians will see a change in petroleum prices from midnight tonight. Consumers will pay more for gasoline and less for diesel, kerosene and liquefied petroleum gas (LPG).

The retail price of gasoline will move from $2.97 per litre to $3, an increase of three cents per litre. The price of diesel will drop from $2.28 to $2.15, a saving of 13 cents. Kerosene will now retail at $1.10 per litre, down from $1.12.

Meanwhile, liquefied petroleum gas (LPG) will retail at $146.85 per 100 lb cylinder, down from $157.72, a decrease of $10.87. The price of the 25 lb cylinder is now $41.81, a decrease of $2.72, while the 22 lb cylinder will now cost $36.96, a decrease of $2.39. The price of a 20 lb cylinder has moved from $35.77 to $33.60, a $2.17 decrease.

A Government-issued news release said these adjustments in retail prices are due solely to changes in the CIF (cost, insurance and freight) of these refined products.

47 Responses to Changes in petroleum prices

  1. Omar Watson
    Omar Watson May 7, 2017 at 7:17 pm

    Just criminal. Bajans just stupsing and filling up so they’ll continue with this nonsense.

    Reply
  2. Kevin Callender
    Kevin Callender May 7, 2017 at 7:33 pm

    All de time so….this government doing bare . . .

    Reply
  3. Luis Fuentes
    Luis Fuentes May 7, 2017 at 7:35 pm

    World oil prices continue a slow downward spiral and our prices continue an upward spiral…..things that make you go…hmm?

    Reply
    • Mark B
      Mark B May 8, 2017 at 6:27 pm

      Luis, it makes perfect sense actually. If the cost per barrel is going down, and government reduces its subsidy of gasoline (a luxury Barbadians now enjoy), then Government can actually close budget deficits much faster than it otherwise would be able to by simply pegging the domestic cost of gasoline to the price of crude. Tax receipts increase marginally while supply costs go down modestly = significant government savings, which I believe most would agree is a good thing (I.e less borrowing)

      Reply
  4. Macmood Tata
    Macmood Tata May 7, 2017 at 7:36 pm

    Dem criminals

    Reply
  5. Macmood Tata
    Macmood Tata May 7, 2017 at 7:39 pm

    I can’t wait fuh elections to vote out des highway robers

    Reply
  6. Gittens Hallam
    Gittens Hallam May 7, 2017 at 7:47 pm

    It’s time bajans boycott this. Sick and tired every five minutes wanna calling for more money from d poor, look just yesterday NHC say them rent gotta go up now tell me how u expect to want more and ain’t giving jack?

    Reply
  7. Maria T Holdipp
    Maria T Holdipp May 7, 2017 at 8:04 pm

    When will these ” heffers” stop this crap DOA?

    Reply
  8. Wendy Plant
    Wendy Plant May 7, 2017 at 8:09 pm

    Oil prices are down, wth…

    Reply
  9. David Brade
    David Brade May 7, 2017 at 8:30 pm

    Dems now dems again

    Reply
  10. Angela Griffith
    Angela Griffith May 7, 2017 at 8:42 pm

    All time so gasoline in drop in 3 months we have to vote them out

    Reply
  11. Steve Jemmott
    Steve Jemmott May 7, 2017 at 8:43 pm

    …..It’s high time this crap stop!, it takes three months to place order on oil market, and many more for shipment . but only 2 weeks to raise prices again and again…

    Reply
  12. Peter May 7, 2017 at 8:43 pm

    This meand all other charges go up…. electricity, water, supermarket prices. everything. everything…

    Reply
  13. Peter May 7, 2017 at 8:45 pm

    Means

    Reply
  14. Christine Taylor
    Christine Taylor May 7, 2017 at 8:47 pm

    CROOKS!!

    Reply
  15. Maureen Annius
    Maureen Annius May 7, 2017 at 8:53 pm

    Lord have mercy dem killing we

    Reply
  16. Joey St
    Joey St May 7, 2017 at 8:54 pm

    Seems as though most of you don’t live here, petroleum prices have been fluctuating for a number of years now base on world prices.

    Reply
    • Steve Jemmott
      Steve Jemmott May 7, 2017 at 10:03 pm

      …..it has fallen sharply as well many times.

      Reply
    • Macmood Tata
      Macmood Tata May 8, 2017 at 10:33 am

      Fluctuate to suit dem. Y when d blp was in n a barrel of oil was US$150.00 d price to d consumer was lest. D dems maths is like Chris STINK CLAIR 28% in maths at school. Can’t add up to me

      Reply
    • Macmood Tata
      Macmood Tata May 8, 2017 at 10:34 am

      When D world prices r down dem don’t bring it down

      Reply
    • Joey St
      Joey St May 8, 2017 at 11:27 am

      Well vote dem out, but i assure u that in the next 5 to 10 years if the bees get in u will be cussing them and want to get rid of them as well.

      Reply
  17. Milli Watt May 7, 2017 at 9:01 pm

    I love it………wunnah goin b!%#^ and pay like good little former slaves.

    Reply
    • Jennifer May 7, 2017 at 10:16 pm

      Milli you wicked sweetie. I got to get me some shares in that oil terminal that is up for grabs. I intend to think high and slick. We all will soon become terminal.

      Reply
      • Milli Watt May 8, 2017 at 9:18 pm

        @ Jennifer shares ain’t for you……..want your money in my back pocket and you in the field.

        Reply
  18. Paul R. Farmer
    Paul R. Farmer May 7, 2017 at 9:20 pm

    Whenever DEM need money gas prices get raised

    Reply
  19. kathy-ann Clarke May 7, 2017 at 9:30 pm

    World prices dropping all the time, yet ours keep going up. what next ?

    Reply
  20. Brathwaite-Haynes Joycelyn
    Brathwaite-Haynes Joycelyn May 7, 2017 at 10:08 pm

    I sick of this all the time so.

    Reply
  21. Javan Cook
    Javan Cook May 8, 2017 at 1:30 am

    Wanna guh still go to the pumps and fill up so I don’t mind half of wanna complaining.

    Reply
  22. Mark B
    Mark B May 8, 2017 at 6:36 am

    Am I reading incorrectly? It would seem that there is a combined reduction in costs for various items to the tune of $18.15 per various units while the only increase was gasoline by $0.03/gallon. Yes I know most will argue one purchases more petrol that the other items, but it would seem to me the government just reduced the subsidies it pays for a luxury item (gasoline for a car is a luxury), while increasing subsidies for what most would consider necessities. How exactly is this a bad thing?

    Reply
    • Kenisha Connell
      Kenisha Connell May 8, 2017 at 10:12 am

      3c per liter. It will be more than 3c to the gallon. If it was 3c to the gallon I’m sure that no one would complain

      Reply
    • Mark B
      Mark B May 8, 2017 at 6:21 pm

      I think you’re missing the overarching point which is regardless of the increase ($1.71 per tank assuming an average 15 gallon tank btw), what we are talking about is Government reducing the subsidy on what most would consider a luxury item (gasoline for private transport). I don’t know that government is obligated to make operation of a private vehicle affordable by way a subsidy of gasoline. It is however obligated to ensure its citizens can afford to cook their meals. When one looks at the changes objectively, clearly the proposal is intended to make the cost of actually living more affordable – I think that is a reasonable goal and the policy reflects as much.

      Reply
  23. Maaz A Love
    Maaz A Love May 8, 2017 at 6:58 am

    Again!!! One of the largest oil exporters in the world is less than 600 miles away. (Venezuela) It’s a damn shame!

    Reply
  24. Alfred Shepherd May 8, 2017 at 8:06 am

    you Want to see the economic power you have, boycott all the gas distributors except one, everyone use this company and see where the prices will go. You have about for or five different distributors on the island, choose one and leave out the others. Prices must go down.

    Reply
  25. Kathie Daniel May 8, 2017 at 8:51 am

    World crude oil prices are dropping and have been dropping for months. I call bull$#it on this price increase from the Barbados Government. BDS$3 per litre for gasoline is akin to highway robbery.

    http://www.macrotrends.net/1369/crude-oil-price-history-chart

    Reply
  26. Peter May 8, 2017 at 9:17 am

    The oil trading business is very complex and complicated. The price of oil soared in the eighties because the cost of extracting and refining far exceeded the selling price and that did not include shipping storing and other peripheral costs. Texas oil magnates were forced to cap their wells and the US had to import more which caused a shortage and that sent up prices. The Arabs decided to flood the market which stimulated a drop. With the advent of extensive use and research of green energy. World oil prices are more than likely to stay low with a marginal profit line. This has forced the Arabs to invest in hospitality and tourism which includes shopping and pharmaceutical production which does not exclude Insurance and medical. Manufacturing is left to third wirld countries with dirt cheap labor. Barbados must carefully select what direction it needs to move in and go there.
    I think an amalgamation of Caribbean countries will benefit us all as a united Caribbean economy with one currency, one constitution, one tax system, and very importantly, movement of people. Prevent them from plying their professional skills outside the Caribbean. How can this be achieved? It must begin with two or three countries forming a union which will be the nucleud for eventual growth into a single united Caribbean alliance compu=ounded with love, trust and respect.

    Reply
  27. Peter May 8, 2017 at 9:17 am

    compounded….

    Reply
  28. Richard May 8, 2017 at 9:35 am

    It’s a waste of time one minute their up next minute their down come on now make up wanna minds and stop playing with people’s emotions we bck ppl ain’t that rich right now

    Reply
  29. Marc Egan
    Marc Egan May 8, 2017 at 10:15 am

    So help me peeps who recaps the fuel prices three years ago when barrels prices were $80 a barrel as I thought was $2 something a liter??

    Reply
  30. Saga Boy May 8, 2017 at 11:57 am

    Most of you are like sheep. You don’t think for yourself. The cost of gasoline is now cheaper than it was in 20 December 2014 ( $3.57 per litre) and (January 2015 – $3.24 ). April 2015 diesel was $2.30 per litre. The point is that prices go up and down. Do the research.

    Reply
    • harry turnover May 8, 2017 at 5:08 pm

      Yes I did the research and gas was $2.98 as of the 5th of MARCH 2017 dropped to $2.97 in April and now at the highest for the year so far.
      Just like I said back then despite the drops and increases it actually RISES every 3 or 4 months.
      Readers can check for themselves for the next 4 months and you will see that it won’t be below $3 by September.

      Reply
  31. ED Springer May 8, 2017 at 12:46 pm

    Somethis is very wrong with this process. gasoline prices are dropping all over the work, but Barbadians are getting whopped with price increases. was there ever a reduction in gas prices for Barbadians

    Reply
  32. Richard Johnston May 8, 2017 at 1:11 pm

    Why does Barbados need a government agency and employees to perform a function the market handles perfectly well?

    Reply
  33. bradg May 8, 2017 at 3:48 pm

    When you can’t change “P” (Price), then you have to change “Q” (quantity). We have control over Q.
    Be smart and pay attention to your consumption of fuel and cut out the unnecessary errands.

    Reply
  34. Milli Watt May 8, 2017 at 9:20 pm

    would like to know how much this market could bare…………..say 4.00 a liter

    Reply

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