Fuel price increase

The West Indies Oil Company (WIOC) has reported a seven (7) per cent increase
in the cost of gasoline and a two (2) per cent decline 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 adjust retail prices at the
pump.

Effective Friday 22, March 2024, fuel prices will be as follows:
 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 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.

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.