Another increase in fuel prices might be around the corner, according to Minister of Finance Gaston Browne.
While the prices of diesel and gas at the pumps were increased on March 15 – to $15.50 and $15.70 per gallon, respectively – on April 22, the Government reduced prices by 27 cents and 55 cents per gallon, claiming it had paid less for its last shipment of fuel.
However, on Saturday, April 30, Browne said the next shipment may bring another increase in the prices of fuel.
He says that passing on the increase to consumers would be the best thing to do. It would prevent his Administration from having to dip into its already scarce financial resources to subsidize payment for the shipment, he claims.
Browne says he will discuss the matter with the other members of his Executive come Wednesday, May 4, to determine the best way of handling it.
If the Government goes the extra mile to subsidize fuel, he says, it will mean digging deeper into its pocket to ensure that prices are kept down.
Meanwhile, commenting on the recent decrease in the price of fuel, Browne has this to say.
In the meanwhile, consumers are speculating about the new increase, wondering whether the 55-cent reduction will be added back or that amount will attract an additional sum.
The increase in fuel prices has also caused a trickle-down effect on the price of liquid propane gas (LPG), causing the cost of the 100-pound cylinder to increase by $20, said to be a service fee for delivery.