Premium Fuel Takes a Hike – More to Come?
The cost of fuel has increased for the second time in less than one week, particularly for premium fuel. At midnight Friday, a nineteen-cent increase went into effect for premium fuel. This takes the price from ten dollars twenty-five cents to ten dollars forty-four cents. This followed a one-cent increase for diesel to nine dollars and seven cents and two-cent increase for regular to nine dollars and sixty-two cents. There has been no explanation for the increases and it is expected that the cost of fuel may go up even more. Last year, the government raked in fifty million dollars from a revision of duties and as it seeks more funding to reduce the deficit in the 2017/2018 public budget, fuels may again be targeted.