MOTORIST TO PAY MORE AT THE PUMPS FOR GASOLINE AS OF FRIDAY

The price of gasoline at the pumps will increase by $0.51 per gallon as of Friday, March 22. Motorists will pay $14.50 per gallon, up from the current price of $13.99. The Finance Ministry made the announcement in a media release on Wednesday, following a 7% increase in gasoline prices and a 2% reduction in diesel prices announced by West Indies Oil Company. The prices as of Friday will be: Gasoline: $14.50 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 Ministry says the adjustment in retail prices is 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 Ministry also says even with the looming gas price increase, consumers in Antigua and Barbuda are paying less than people in other countries in the region. It says the average regional prices for gasoline and diesel are currently $15.45 and $15.91 respectively while the regional average for the 20-pound and 100-pound cylinder of LPG is $38.28 and $202.15 respectively.