The West Indies Oil Company (WIOC) has reported a one (1) per cent decline in the cost of gasoline and a nine (9) per cent increase in the cost of diesel.
Based on the refined pass-through mechanism for fuel prices, which takes into account revenue assurance, price stability, and maintenance of subsidies for certain petroleum products, the Government has decided to maintain the retail prices at the pump.
Effective Wednesday 28, February 2024, fuel prices will be as follows:
- Gasoline: $13.99 per gallon
- Diesel: $14.25 per gallon
- 20 Pound LPG: $32.00 per Bottle
- 25 Pound LPG: $40.00 per Bottle
- 100 Pound LPG: $155.00 per Cylinder
The average regional prices for gasoline and diesel are currently $15.36 and $15.88 respectively while the regional average for the 20 pound and 100 pound cylinder of LPG is $38.58 and $200.36 respectively.
To support affordability for consumers, the Government continues to provide the following subsidies:
- 20 Pound LPG: Subsidy of $5.16 per bottle
- 25 Pound LPG: Subsidy of $6.45 per bottle
- 100 Pound LPG: Subsidy of $17.64 per cylinder
Margins for WIOC, inland transport, and gas station dealers remain unchanged.
