Antigua and Barbuda: The Cabinet has approved the government’s twenty-five percent (25%) fuel subsidy programme to benefit the taxi, bus operators, and fisherfolk.
Further, the Antigua and Barbuda Transport Board and the Ministry for fisheries have developed a voucher system that came into effect on Thursday, March 24.
Measures of the programme:
- Under this arrangement, transportation service providers and fisherfolk will receive a 25% reduction in the cost of fuel.
- It means, therefore, that taxi and bus fares will remain the same for people utilizing these services, and the price per pound for fish and other seafood should remain unchanged.
As per the report of the office of the prime minister, the Cabinet held discussions on the price of fuel at the pumps in Antigua and Barbuda after they promised with the residents of the country.
It was noted that the price of oil on the world market has been trending upwards for several weeks, with the price per barrel surpassing US$120.00.
The office further emphasized that the continued war in Ukraine is having a negative impact on global supply, and this has the effect of driving up the per-barrel cost.
It stated that other countries across the globe have incrementally risen their price at the pumps for several years, the price in Antigua and Barbuda remained the same to ensure there is stability and predictability in the cost of fuel, an approach that ensures prices for other commodities such as food remain stable.
The Cabinet also noted that in doing so, the government collected less Consumption Taxes, and it is the case that the government collected only $1.7 million for this month.
It reiterated before the recent rise in the cost of fuel at the pumps; this country enjoyed the lowest fuel prices in the OECS. The price of fuel at the pumps will therefore remain unchanged for now, at $15.70 per gallon for gasoline and $15.50 per gallon for diesel.
Cabinet reaffirms its commitment to continue to monitor the price of oil on the international market and will adjust the price downwards when the price per barrel on the international market permits a reduction at the pumps.