MEMBERS OF THE PUBLIC will soon be paying less for some petroleum products, more for others.
Effective midnight, last night, the retail price of gasoline decreased from $3.57 to $3.24 per litre – a saving of 33 cents.
The price of diesel moved from $2.78 to $2.52, down by 26 cents, while the retail price of kerosene will now be eight cents less at $1.53, down from $1.61.
However, they will be paying more for liquefied petroleum gas (LPG).
The 100-pound cylinder will now be retailed at $180.87, up by $4.35. The 25-pound cylinder will now cost $50.32 – an increase of $1.09 – while the 22-pound cylinder will now be retailed at $44.44, an increase of 95 cents.
The 20-pound cylinder will now cost $40.40, up by 87 cents.
Government has a mechanism in place to adjust petroleum prices in a more timely fashion, whereby prices will be regulated by the Ministry of Commerce and Trade, on the advice of the Division of Energy and Telecommunications.
This mechanism is now in use and price changes will be more frequent (up or down) in accordance with the imported price of petroleum products. (PR/SAT)