The Authorities of Antigua and Barbuda has determined to soak up a latest hike in gasoline costs reported by the West Indies Oil Firm (WIOC), sustaining stability on the pump for shoppers regardless of market fluctuations.
In response to the most recent figures from WIOC, gasoline costs have surged by 5 per cent, whereas diesel costs have seen a modest decline of three per cent.
Nevertheless, relatively than passing on these price changes to shoppers, the federal government has opted to uphold present retail costs.
Authorities’s rationale: Balancing act for stability
In an official assertion, the federal government elucidated its rationale behind this choice, citing the implementation of a refined pass-through mechanism for gas costs.
This strategy, the assertion asserts, prioritizes income assurance, worth stability, and the preservation of subsidies for particular petroleum merchandise.
– Commercial –
Retail costs unchanged
Consequently, shoppers in Antigua and Barbuda can count on no fast adjustments to gas costs on the pump. Gasoline will stay priced at $14.50 per gallon, whereas diesel will keep at $14.25 per gallon.
Equally, costs for Liquefied Petroleum Gasoline (LPG) will stay regular, with 20-pound cylinders priced at $32.00, 25-pound cylinders at $40.00, and 100-pound cylinders at $155.00. It’s value noting that simply final month, the worth of gasoline skilled an uptick from $13.99.
Antigua and Barbuda’s aggressive edge
Compared to regional averages, Antigua and Barbuda’s gas costs maintain a aggressive edge. At present, the typical regional costs for gasoline and diesel stand at $15.86 and $15.91 respectively.
– Commercial –
LPG costs for the 20-pound and 100-pound cylinders within the area common $38.66 and $204.18 respectively.
Subsidies for LPG
To alleviate the burden on shoppers, the Antiguan authorities continues to offer subsidies for LPG.
These subsidies embrace $5.16 per bottle for 20-pound LPG, $6.45 per bottle for 25-pound LPG, and $17.64 per cylinder for 100-pound LPG.
