WITH OIL PRICES at their lowest in recent years, Barbadians can look forward to lower electricity bills and possibly lower prices at the pumps.
This news is coming from Barbados Light & Power (BL&P) and a top official in the Division of Energy in the Prime Minister’s Office, as oil prices on the international market plunged to US$34.70 a barrel.
Acting Permanent Secretary in the Division of Energy, Jehue Wiltshire, said oil prices were expected to continue their downward trend.
“All indications are that oil prices will further decline. It is expected therefore that there will be lower calls on the foreign exchange reserves, lower prices at the pump as well as lower electricity prices in line with the fuel clause adjustment approved by the Fair Trading Commission (FTC),” he told the DAILY NATION. (AD)
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