Trade Director Matthan Walter has reported price increases in diesel & gasoline, as well as propane gas
Director of Trade, Matthan Walter has reported has reported an increase in the price of fuel at the pumps. Mr Walter said today, there has been small increases in the price of the Liquefied Petroleum Gas (LPG), kerosene, diesel and gasoline products as a result of a new adjustment which took effect on 28th March 2016.
He said “The past price of the 100-pound cylinder was $112.48 and is now $115.51. The 30-pound cylinder was $34.74 and has increased to $35.65. The 27.5-pound cylinder was $31.93 and has increased to $32.77. The 20-pound cylinder was $23.50 and has increased to $24.10”.
Mr. Walter noted that the increase in LPG Products is due to the increasing cost of propane and butane; the two gasses used in the production of LPG, on the world market.
“In the previous adjustment period, the price of propane was about $0.35 cents. It has now increased to $0.435 cents. The price of butane was $0.529 and has now increased to $0.547. These slight increases would cause an overall increase with the price of the LPG products.
Meanwhile, there has been a slight increase as it relates to gasoline, diesel and kerosene. “In the past price adjustment, gasoline was at $9.15. It is now at $9.39; that’s an increase of 24 cents. Diesel was at $7.74, it increased to $7.87 an increase of 13 cents. Kerosene was at $6.58; it has increased to $6.71, a price increase of 13 cents per gallon”.
Walter informed that the price increase can be attributed to the decrease in production of about nine hundred and fifty thousand barrels per day on the international market.
He added “That increase in price was counteracted by the Arabians coming into the market after the agreements that was signed with the United States of America and that is the reason why we do not have such a huge increase”.
Current and past news stories.