Price of Fuel to go Lower

The Star (St. Lucia) - - LOCAL -

There is ev­ery chance that the price of fuel here may be fur­ther re­duced ahead of the three month pass through mech­a­nism adopted by the gov­ern­ment. The last adjustment was on Jan­uary 12, 2015.

A re­lease from the of­fice of the Prime Min­is­ter, re­ceived by the STAR Fri­day morn­ing, states that the prime min­is­ter has as­sured “that the prices of pe­tro­leum prod­ucts will be fur­ther re­duced when the next ad­just­ments are made”. Ac­cord­ing to the state­ment: “In an in­ter­view with HTS News Force on Thurs­day, Jan­uary 22, 2015, the Prime Min­is­ter in­di­cated that the only out­stand­ing ques­tion is the tim­ing of the ad­just­ments.” Ac­cord­ing to Dr. An­thony, the Min­istry of Fi­nance is mon­i­tor­ing the cost of fuel closely on the world mar­ket, to de­ter­mine whether the time pe­riod for the next adjustment will be short­ened.

“I want to re­as­sure Saint Lu­cians that the next time prices are ad­justed they will see a down­ward move­ment again in the price of both gaso­line and diesel. It is in­evitable be­cause in re­cent times there has been no up­ward move­ment in the price of fuel. The only out­stand­ing ques­tion as I in­di­cated in the ad­dress to the na­tion is whether we main­tain the three months adjustment pe­riod or re­duce the adjustment pe­riod to eight weeks or even six weeks. We will be look­ing at the fig­ures to re­solve that is­sue,” the re­lease quotes the PM as say­ing.

There had been calls by the op­po­si­tion UWP and oth­ers for the gov­ern­ment to re­vert to a monthly sys­tem of ad­just­ing the price of gas. The last price adjustment which went into ef­fect on Mon­day Jan­uary 12 saw a re­duc­tion in the prices of gaso­line, LPG, diesel and kerosene.

The price of fuel at the pumps is ex­pected to be re­duced fur­ther.

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