Price worry

Barbados tops in petrol costs in the region

Gasoline and diesel here are higher than anywhere else in the Caribbean, and is among the top 50 countries in the world with the highest charges for petrol, leaving one local consumer advocate to wonder whether Government was not “profiteering”.

Although there was a drop in the price of diesel from $2.63 per litre at the end of February to $2.60 per litre as at midnight last night, this was still higher than other Caribbean countries for which data was available for on the website, which updates gas prices for more than 100 countries on a weekly and monthly basis.

The average price of diesel around the world was $2.08 per litre at the end of last month, while it retailed at $2.33 in Grenada; $2.26 in Jamaica and the Bahamas; $2.08 in Cuba; $2.07 in St Lucia; $1.98 in Guyana and $1.51 in Dominica.

The local price point of $2.63 at the end of February made Barbados the 44th most costly out of 166 countries on the list, tied with Belize and Zambia.

Iceland had the highest price at $4.05, while Venezuela was listed at zero, Iran at 18 cents and Saudi Arabia at 25 cents. Trinidad and Tobago was ninth cheapest at 71 cents.

On the other hand, the price of gasoline, which was being retailed at $3.29 per litre here at the end of February, before climbing 15 cents to $3.44 as at midnight last night, well above the world average of $2.30 at the end of last month, makes

Barbados the 23rd most costly of 167 countries.

Gasoline was retailing in Cuba at $2.49 per litre at the end of last month; $2.43 in Grenada; $2.37 in the Bahamas; $2.35 in Jamaica, $2.07 in St Lucia; $1.97 in Guyana; $1.88 in Haiti; and at $1.75 in Dominica.

Trinidad and Tobago was again the cheapest in the region at $1.18 per litre, making it the 18th cheapest in the world, while in Venezuela the cost was two cents per litre, Sudan was 68 cents and Kuwait was 70 cents per litre.

The differences
in retail gas prices are due to the various taxes and subsidies imposed by each country, according to the website.

“As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices. One notable exception is the US, which is an economically advanced country but has low gas prices,” it said.

It was in his May 30, 2017 Budget address that Minister of Finance Chris Sinckler announced a 25 cent per litre increase on the excise tax on gasoline, from 74 cents to 99 cents, and 24 cents on diesel, from 20 cents to 44 cents, in an effort to raise $50 million in revenue.

International crude oil prices averaged about US$63 per barrel last month.

Consumer rights advocate Malcolm Gibbs-Taitt described petrol prices here as “ridiculous”, saying it was not fair that Barbadians were paying more at the pump than most countries, including the US, despite a vast difference in wages.

“The American working and doing a similar job to his Barbadian counterpart is paid about four times more than we are but we are ending up paying about the same for our fuel products,” Gibbs-Taitt,  the director general of the Barbados Consumers Research Organization, said, adding that the same could be said for other commodities.

“I have said for ages that our price is ridiculous and I can’t follow the rationale for our increases. If one just takes a simple glance at it you notice that gas prices will go up by 15 cents quite easily but when the time comes for a reduction it is reduced by two cents, and I have a problem with that. The truth is, one wonders if the price reflects what is happening on the world market because I am not so convinced it is. It looks as though it is a way of profiteering for the oil companies, whether it be Government or otherwise,” he said.

14 Responses to Price worry

  1. archy perch March 6, 2018 at 3:23 am

    Just like the furry rat attired with pants braces here comes Malcolm from under the rock. He’s wearing his old smelly hat as the self-appointed Secretary-General of a useless consumer group he claims to control. Most of the people are dead. Malcolm also puts on his red underware, red tie and with raging red eyes comes out swinging for the crooked BLP from which he once had a job in the Ministry in the Pine cleaning toilets and carrying out the garbage in a mostly no-show position.

    • Ric March 6, 2018 at 12:07 pm

      I do not know Mr. Malcom Gibbs-Taitt and certainly do not hold any briefs for him, but I could not in good conscience read this diatribe spouted by whoever Archy Perch is without saying something. Mr Perch … if that’s your real name … why haven’t you dealt with any of the points that Mr. Gibbs-Taitt made? Instead, you were venomous, disrespectful and continue to show not only your political colours, but your ignorance. I guess that is a result of you having no substance.
      My mother, who I call my Queen, and many other Barbadians, cleaned toilets and took out garbage for a living, and worked her butt off to make sure that her children had food on the table and a proper education. While she was cleaning toilets and carrying out the garbage, she was teaching her children how to be respectful and to be thinkers for themselves. She taught us that our opinions matter but they will mean nothing if presented in a vile and nasty attitude. She also taught us that if we didn’t have any knowledge of anything that was being discussed, it was better to let the world think that we were ignorant than to open our mouths and remove any doubt. Maybe, just maybe Mr. Pearch, you should’ve kept company with more toilet cleaners and garbage disposers.

  2. Saga Boy March 6, 2018 at 5:04 am

    What about the high bank charges and the high food prices and the high professional fees charged by doctors and lawyers and car companies who report healthy profits each year? What are you going about that? It is interesting how BLP Folkes like Malcolm decide at times to compare Barbados with the rest of the world and when it fits them say that they are not interested in any comparative analysis with any other country.

  3. jrsmith March 6, 2018 at 6:32 am

    What to expect in Barbados everything is expensive , because we have no proper government to management anything ……..
    ((Rip of Barbados )) everything is over priced as to bajan wages..
    When is anything going to change for the better in Barbados….
    The black people in Barbados need to stop being frighten of they politicians and use they democratic rights to challenge they survival…..

    • Jennifer March 6, 2018 at 7:25 am

      The politicians is not our problem it is the mindset of them and people.

      • Spectre March 6, 2018 at 10:02 am

        Same as it ever was. For the majority, as long as there’s a little food in their belly and some music to wuk up to, what else matters? Sad.

  4. Greengiant March 6, 2018 at 7:11 am

    Malcolm unfortunately Barbadians may still be repaying the subsidy that they enjoyed under the Arthur administration. It was a considerable few millions that BNTCL found themselves saddled with, so we are now paying market prices, plus the contribution towards the still outstanding subsidy. At least those who benefited from this subsidy are repaying it and not all taxpayers.

    You have been in this game for decades, yet you have designed no formula to calculate unreasonable pricing, you have no grouping who go to businesses to check pricing, or those who monitor at the import point. This because you had first used your knowledge for commercial purposes, only becoming an advocate when that commercial investment failed. Your time has past and your efforts are obsolete. New blood is needed in consumerism.

    • Jennifer March 6, 2018 at 7:39 am

      “New blood is needed in consumerism” Will this matter in our hemisphere of global dependency. We have become mummies wrapped in white bandages. This people have long forsaken their firewall, and the virus done upload.

  5. chris hill March 6, 2018 at 8:13 am

    we have allowed this to happen. for the last 9 years the fuel prices have been rising and rising but no one in protest against the government controlled pricing structure. BNTCL profiteering is only benefitting the ministers and those proposing to purchase the BNTCL. so lets all decide there is going to be one day that we are not going to drive at all and show SOL and The government that we are not taking it anymore. then again we Bajans never will stand up for fairness so pay the piper.

  6. Sam March 6, 2018 at 10:42 am

    After spending more than 2 hours on the road this morning to drive 6kms I don’t think Barbadians will stop driving even for a day. As an outsider looking in, there is much change needed to get Barbados out of this economic situation.
    People need to demand change instead of just complaining about it. Just take a look at the sewage issues in the south that have been going on for years and nothing is done about it and after being here for six months I have not seen one protest about it.

  7. Atman March 6, 2018 at 11:21 am

    The price we pay for gasoline is being inflated by our gov’t to grab more from us…it does not reflect the reality of the international market. I’m glad that this situation is getting some focus in the media. We need to get rid of these bastards but that demon of a PM taking us down to the baller.

  8. Atman March 6, 2018 at 12:58 pm

    Dem must go!! …de whole bunch of Dem.

  9. jrsmith March 6, 2018 at 3:37 pm

    @,Sam , hail , hail , your (10:42 ) is right in the bag, that’s a point I keep making , no real challenge after 10 rough years of nothing done from a nothing government …. The voters is scared of the politicians , our people is under heavy manners , lock down , people scared to openly condemn the devastation in Barbados…
    The politicians say and do what the hell they like any time they like , as they are not accountable to the black voters providing its in the interest of certain people ………
    My take our bajan politicians are people who is above the law of the land and bajans think that you could only get rid of this kind of government only at a general election, that’s a dream which is going to back fire, then the present lot would be there for 5 more years and then what ………………………………
    We need a bit of legislation an act of parliament namely so the ( (Accountability Act 2018 )which automatically is able to remove from office bad MPs by the same votes which put them there…….

  10. Cecil P March 6, 2018 at 9:14 pm

    gas prices oh please @ the north pole we’re crying out loud the gas price is so damn high. and the worse part of it the north pole have more oil and gas than most country’s in the world .and every damn day the price is going up and down . u know what there all crooked crooks .they have us by the ….’s there’s not very much we can do about it .it’s like that


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