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Jun 19, 2018

PM Barrow Addresses Increases in Fuel Prices

Two weeks ago, in a press release G.O.B. promised that the prohibitively high fuel prices would go down at the next shipment. Well, that has shipment arrived. But over the weekend, the price of regular went down by thirty three cents per gallon, and today the price of premium went up by four cents.  Still the Prime Minister says that the public will see some decreases in the next shipments and that it may be the trend in the coming months. He says, though, that everything depends on the world prices.

 

Dean Barrow, Prime Minister

Dean Barrow

“The premium there was a little bit of a lag so that is the effect with the next shipment that also will go down, the next shipment of diesel will see a decrease and for the next few months that ought to be the trend. And of course you know that everything depends on what is happening abroad with geopolitics with the way how the oil prices are moving with the fact now that there is going to be decreased production from Iran given the US sanction. There is decreased production from Venezuela giving the internal problems but as you know Open and Russia are agreeing in principle to increase productions, US sales s going great. So it does look like for the next few months perhaps the next half of year there ought to be a downward trend. Of course it is so volatile that anything can happen and that can change but as of now the best assessment is for continuing declines for the next couple of months.”

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