Prices of fuel products came down today as promised. The following is the official statement on the reductions issued by the office of the Prime Minister:
“Effective today – Monday, January 12, 2015 – consumers in Saint Lucia will pay less for gasolene, diesel, kerosene, 20-pound LPG (liquid petroleum gas), 22-pound LPG, 100-pound LPG and bulk LPG.
“The price of gasolene will decline from $15.85 per gallon to $13.64. This will yield a reduction of $2.21 per gallon. The price of diesel will fall from $15.14 to $13.21 a gallon, a saving of $1.93 a gallon.
“Consumers will realize savings of $4.04 on a 20-pound tank of LPG and $4.43 on a tank of 22-pound LPG (cooking gas). The price of 100-pound LPG cylinders will be reduced by $20.17, from $255.94 to $235.77.
“The new retail prices for these products are summarized as follows:
New retail oil prices
|Products||Old Retail Price||New Retail Price||Change|
|Gasolene||$3.49 per litre or $15.85 per gallon||$3.00 per litre or $13.64 per gallon||Decline of $0.49 per litre or Decline of $2.21 per gallon|
|Diesel||$ 3.33per litre or $15.14 per gallon||$2.90 per litre or $13.21per gallon||Decline of $0.43 per litre or Decline of $1.93 per gallon|
|Kerosene||$2.52per litre or $11.44per gallon||$2.22 per litre or $10.11per gallon||Decline of $0.30 per litre or Decline of $1.33 per gallon|
|100-Pound Cylinder LPG||$255.94 per cylinder||$235.77 per cylinder||Decline of $20.17 per cylinder|
|Bulk LPG||$5.47 per kilogram or $2.48 per pound||$5.02 per kilogram or $2.28 per pound||Decline of $0.45 per kilogram or Decline of $0.20 per pound|
“The Government of Saint Lucia emphasizes that it is absolutely false to claim that the Government “is making about $6.80 on every gallon of gas.” The Excise Tax, as announced in the last Budget remains at $2.50 per gallon, lower than the $3.00 per gallon charged by the former UWP administration.
“Despite the current economic conditions and increased pressure to reduce expenditure, Government will continue to maintain the subsidies of $14.26 per 20-pound cylinder of LPG and $15.30 per 22-pound cylinder of LPG during this cycle.
“The next fuel price adjustment is due on April 5, 2015 and will be determined by the landed cost of these products over the review period.”