Barbados cuts fuel and LPG prices by upto 16 cents, bringing relief to households 

Barbados: Effective midnight on Sunday, the retail prices of petroleum products across Barbados has been reduced and this has brought relief to motorists, households and businesses amid ongoing cost of living concerns. According to the latest announcement, gasoline, diesel, kerosene and liquified petroleum gas will all see price decreases at the pump and retail outlets nationwide.

Gasoline will now retail at 3 dollars 77 cents per litre which will reflect a reduction of 11 cents. Diesel has also been reduced by 16 cents and will now sell for 3 dollars 25 cents per litre. The price of kerosene has also been adjusted downward by five cents and will now retail at 1 dollar 43 cents per litre.

In addition to fuel at the pump, the prices of liquified petroleum gas cylinders have also been revised. A 100-pound LPG cylinder will now cost 161 dollars 47 cents. The 25-pound cylinder will retail at 45 dollars 47 cents while the 22-pound cylinder has been priced at 40 dollars 18 cents. The 20-pound LPG cylinder will now sell for 36 dollars 52 cents.

The adjustments are expected to provide some financial relief to households and particularly those that rely heavily on LPG for cooking as well as businesses operating within the transport and service sectors. Fuel price adjustments in Barbados are reviewed on a monthly basis and are influenced by several factors including international oil prices, foreign exchange and shipping costs.

This relief in petroleum prices brings a major relief for Barbadians and will save them more cash at the end of month. The officials have confirmed that the next scheduled fuel price review will take effect on Sunday, March 1. Retailers and distributors across the island nation have been advised to implement the new prices immediately in accordance with the directive.