Country experiencing a decrease in the retail price of LPG

The Ministry of Trade and Commerce in Dominica has announced a subsidy on petrol prices in the tiny Caribbean territory.

Director of Trade in the Ministry Matthan J. Walter has disclosed that the prices are gasoline, $16.47; diesel, $16.58 and kerosene $16.57 per gallon, pointing out that these prices were kept lower than they usually would have been due to Government intervention by way of two subsidies. He explained that the Government has added two subsidies to petrol prices.

The first subsidy comprises a waiver of the customs service charge while the second stems from the application of a subsidy on the landing cost for both gasoline and diesel. Without those subsidies, the price of gasoline and diesel would have been gasoline $17.45 and diesel $17.17 respectively.

Interestingly, in the neighbouring Caribbean islands of St Lucia and St Kitts & Nevis, the prices of those products in St Lucia are gasoline being sold for $17.95 per gallon and diesel is $17.95 per gallon and in St Kitts & Nevis; gasoline being sold for $17.83 and $18.88 respectively. The price of diesel is $21.72 per gallon.

Higher petrol prices new reality

He told Dominicans that the increase in prices is now the new reality adding that the Government of Dominica will continue to work towards easing the burden of this new reality on citizens. The Director of Trade in the Ministry has some good news in that Dominica is currently experiencing a decrease in the retail price of liquefied petroleum gas (LPG).

He emphasised that Dominica and other Caribbean countries and across the globe are price takers and not price makers urging that nationals quickly adapt to the current realities to ensure “our sustained comfort”.

Walter gave the assurance that the government will continue to work, within the context of the current reality, to ensure accessibility to utilities and accessibility also to the necessary products on the shelves.