Gas and diesel drop below fuel cap Loop Barbados

The content originally appeared on: Barbados News

Motorists will be paying even less for gasoline and diesel, from Friday, August 19.

The retail price of gasoline will be $4.39 per litre, which is a saving of 44 cents, while diesel will decrease by 43 cents, to $3.85 per litre. Kerosene remains at $2.36 per litre.

From Monday, August 15, Bajans knew to expect a price ease at the pumps for gasoline and diesel and when Prime Minister Mia Amor Mottley announced a press conference to cap these prices. Government decided to cap the retail prices of gasoline and diesel at $4.48 per litre and $4.03 per litre, respectively.

According to a statement issued on August 18 from the Ministry of Energy, “it is felt that the capping will bring some level of predictability to retail prices of gasoline, while shielding consumers from the full increase of refined petroleum products.”

However, when calculated this week, the retail prices fell below the now preset cap for gasoline and diesel, and hence customers and reaping extra savings rewards from today.