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Jan 16, 2019

Premium and Diesel Prices to Decrease by 52 cents

At midnight, there will be some relief at the pumps. The price of premium gasoline will decrease by fifty-two cents effective Wednesday at midnight. Right now the price stands at ten dollars and forty-seven cents and with that decrease the new price will be nine dollars and ninety-five cents per gallon. There will also be a fifty-two cents decrease in the price of diesel. So, if you paid nine dollars and eighty-three cents today – when the clock strikes twelve you will pay nine dollars and thirty-one cents per gallon.  The cause of this, according to the Ministry of Finance, is due to, “weakening global demand reflecting concerns about economic growth prospects in 2019 and also a step up in production in the United States, Saudi Arabia and Russia.” The release from the Government notes that this is the third consecutive decrease in pump prices since November 2018. Since then pump prices have decreased for premium by one dollar fifty-four cents, regular by one dollar thirty-two cents, kerosene by one dollar eighty-seven cents and diesel by one dollar eighty-four cents. G.O.B. says that this is first time since January twenty-fifth, 2017 that all fuel products are priced below ten dollars per gallon at the same time.

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