Tuesday 7 July, 2020

St Lucians to benefit from lower fuel prices - Jn Marie

With the global decrease in oil prices, consumers will benefit from lower fuel prices in the coming months, possibly until the end of the year.

This is according to Mr Everistus Jn Marie, Managing Director of Jn Marie Gas Station and former President of the Petroleum Dealers Association.

Jn Marie welcomed the change in fuel prices and believes that it is a great policy to adopt now that the government can share savings between itself and the consumer.

‘’The government took an extra dollar bringing up the excise tax to $6.00 and reducing the price of fuel at the pumps gasoline at the pumps that is by $1.59 which is welcomed.”

Although the price of fuel has plummeted for a few months now, Saint Lucia did not see any major decrease in fuel prices. Jn Marie believes that this was the case because if government had decreased the price of fuel, the excise tax would be ridiculously high.

“The truth is it makes more economic sense to pass on the savings to the consumer as well. Especially the minibus drivers who have been suffering in that they have to settle for fewer people on their buses because of the need for social distancing. Fuel is a major operational cost for minibus drivers so by allowing them to enjoy the lower fuel prices will somehow offset the cost of the reduced revenue by fewer people being on their buses”.

As of Monday, April 27, 2020, the retail price of gasoline, diesel, LPG 20, 22 and 100 lb cylinders changed while the retail price of kerosene remained the same.

Gasoline decreased from $2.88 to $2.53 per litre or $13.09 to $11.50 per gallon.

Diesel decreased from $2.84 to $2.62 per litre or $12.91 to $11.92 per gallon.

20 Pound Cylinder (9.07 kg) decreased from $28.44 to $27.24 per cylinder 

22 Pound Cylinder (9.98 kg) decreased from $31.28 to $29.96 per cylinder 

100 Pound Cylinder (45.36kg) decreased from $170.24 to $158.31 per cylinder and Kerosene remains unchanged at $1.57 per litre or $7.15 per gallon.

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