On September 18, Grenadians will pay extra at the pump because the cost of gasoline, diesel, and kerosene has increased. While the cost of a 20 lb cylinder of LPG cooking gas has remained constant, the cost of a 100 lb cylinder has climbed.
The Ministry of Finance disclosed the rates in its Petroleum Products Price Change Notice, which was released on September 15, 2023, regarding the retail prices of petroleum products.
The Ministry of Finance reports that a $3.50 fuel tax would be applied to each imperial gallon of gasoline and diesel beginning on January 18, 2023.
The $15.00 price restriction for gasoline products ended on January 18, 2023.
The Ministry of Finance says it continues to monitor petroleum product prices and will intervene as necessary if prices exceed $17.00.
It says the new retail prices are computed based on the average of the actual cost, freight and insurance rates for Gasoline, Diesel and Kerosene, however for LPG, the mean Caribbean postings (Platts) for cost was used over the period August 2, 2023, to August 30, 2023.
