Fuel prices set to experience hike in Antigua and Barbuda, consumers express concern

Antigua and Barbuda: The Government of Antigua and Barbuda has announced a major hike in prices of Gasoline as effective from today, March 22, 2024. According to the information, there will be a 7% increase in the cost of the product. This change in price aligns with the changes made by the West Indies Oil Company. The information also added that diesel will witness a decline of 2% in its price. While announcing these major changes, the Government of Antigua and Barbuda said that the changes are based on the refined pass-through mechanism for fuel prices, which takes into account price stability, revenue assurance and maintenance of subsidies for certain petroleum products. This is why the Government has decided to adjust retail prices at pumps across the nation. Effective from Friday, the new fuel prices in Antigua and Barbuda will be as follows:Gasoline - $14.50 per gallonDiesel - $14.25 per gallon20 Pound Cylinder (LPG) - $32 per bottle 25 Pound Cylinder (LPG) - $40 per bottle100 Pound Cylinder (LPG) - $155 per cylinderIt is to be noted that the average regional prices for diesel and Gasoline are currently $15.91 and $15.45 respectively while the average for the 20 pound and 100 pound cylinder of LPG in the Caribbean stands at $38.28 and $202.15 respectively.Meanwhile, in order to support affordability for consumers, the Government of Antigua and Barbuda will continue to provide subsidies at cooking gas. According to the information, the subsidy for the 20-pound LPG stands at $5.16 per bottle, while for the 25-pound LPG, it will be $6.45 per bottle. Additionally, for the 100-pound LPG, the subsidy will be $17.64 per cylinder.As the Government announced a hike in the prices of Gasoline, the consumers have shown their concern through Facebook. A user named Marilyn Williams wrote, “how are we to survive in this country when all them ppl in control does, is ripping every penny from our pockets. Water, now gas,” while another user said, “Guess am going to have to park up my vehicle an take the license plate back up to transport board and get a bicycle to get around.”

"Fastest growing economy in the Caribbean. Second to Guyana = more taxes, inflation and increased gas prices. What a maths," wrote another user named Shugy.