Barbados slashes fuel prices ahead of festive season

Barbados: Ahead of the holiday season, the Government of Barbados has announced a reduction in the prices of fuel products.  

According to the information, the prices of Gasoline, Kerosene and Diesel have been reduced just in time for Christmas and New Year to give major relief to the consumers across the island. 

The new prices of the products came in effect from Friday, December 13, 2024, onwards with the new price of Gasoline now costing $3.88 per litre after a decrease of 34 cents.  

Diesel has also went down by 15 cents and will now be sold at $3.47 per litre while Kerosene will cost $1.26 per litre after a reduction of 74 cents. 

Notably, the prices of gasoline, diesel and kerosene were last adjusted on September 13, 2023, and the previous prices stood at gasoline $ 4.22 per litre, diesel $ 3.47 per litre, and kerosene $ 2.00 per litre. Since that time, the prices of these fuel products have not been changed.  

While sharing the new prices of the fuel products, the Ministry of Energy and Business of Barbados has advised that going forward, the consumers can expect to benefit from the continuation of Government’s policy which mandates that retail prices should be reflective of those on the international market. 

The Ministry further outlined, “To this end, Government intends to continue the protection for the consumer such that should international prices rise, the cap on prices, which Government has held, will be implemented.” 

With the new reduction of prices in these products, the locals are also expressing their satisfaction with several taking to Facebook to thank the government for implementing these changes. 

A user named Ashmeed noted, “This is great just in time for Christmas,” while another user said Thankyou to Prime Minister of Barbados Mia Mottley. 

Notably, the reduction comes as global oil prices hit their lowest levels since January this year, providing the small islands in the Caribbean with huge benefits ahead of the holiday season.