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HomeNewsRegional NewsBarbados: PM says more needed to protect Barbadians from rising fuel costs

Barbados: PM says more needed to protect Barbadians from rising fuel costs

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by Randy Bennett (Barbados Today) For the second time in under six months, government has put a cap on gas and diesel at the pump, bringing a much-needed ease from skyrocketing petroleum prices, at least for the next five months.

Prime Minister Mia Mottley on Monday evening announced that from Friday until January 31, 2023, Barbadians would pay no more than $4.48 per litre for gas or $4.03 per litre for diesel, regardless of the price of oil on the international market.

The welcomed news means the current gas price of $4.83 per litre, which ranks as the third highest in the world, would be lowered by 35 cents, while diesel which retails at $4.28 per litre would be reduced by 25 cents.

During a press conference at Ilaro Court, Mottley conceded that the previous cap on Value Added Tax (VAT) on fuel had not worked as well as intended, and admitted that more needed to be done to help protect Barbadians from rising fuel costs.

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