BARBADIANS ARE NOW paying slightly less for petroleum products.
From midnight, the retail price of gasoline decreased from $3.62 to $3.57 per litre – a saving of five cents.
The price of diesel moved from $2.87 to $2.78 – down by nine cents; while the retail price of kerosene is now 14 cents less at $1.61, down from $1.75.
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, moving up or down, in accordance with the imported price of petroleum products. (PR)
