With price of oil dropping to just over US$70 on world market, UPP says Government should drop fuel prices to pre-war rates
The United Progressive Party (UPP) wants fuel prices to be taken back to their pre-Ukraine War status.
The prices of gasoline and diesel have been increasing and decreasing at the local pumps since the war commenced early this year, and as the price for both commodities fluctuate on the world market.
At present, the price of a barrel of crude oil on the international market is US$73.25 – compared to US$125 at the height of the war.
Taking these figures into account, Lovell says that prices for both commodities can be reduced to pre-war status and is calling on the Gaston Browne Administration to make this a reality for the benefit of the people.
With the current price for crude oil being just over US$70 on the world market, the UPP Political Leader says it cannot be fair for the Government to continue raking in excessive amounts of consumption tax.
And he notes that the Browne Administration has collected more in consumption tax than any previous administration.