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Feb 26, 2019

Pump Price for Diesel to Increase

The pump price for diesel fuel is set to increase at midnight on Wednesday. It will go up by thirty-three cents, from nine dollars and ninety-seven cents to ten dollars and thirty cents per gallon. Kerosene will also see an increase of twenty-nine cents, from seven dollars and forty-five cents to seven dollars and seventy-four cents per gallon. A release from the government explained that the increases are due to a reduction in supply from the OPEC countries. It says that the price of fuel is also affected by ‘geopolitical uncertainties combined with an increase in demand in North America during the current winter season.’ According to the Government, “the prices were also affected by high seasonal demand, particularly in the aviation, construction, and tourism sectors,  combined with limited bulk storage capacities which together result in a need for more frequent shipments of fuel to the country in recent months.” G.O.B. says it is working with the fuel industry to overcome these limitations and to ensure that the supply of fuel is at an optimum level and that prices remain as low as possible.

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