Grenada reduces diesel, gasoline prices

Prices of Gasoline, Diesel to decline in Grenada
Prices of Gasoline, Diesel to decline in Grenada

Grenada: The retail prices of Gasoline and Diesel will be reduced by $0.83 and $0.55 from Monday onwards in Grenada. In the revised edition of the prices of petroleum products, the government said that there would be no change in the price of Kerosene.

The prices of LPG (Cooking Gas) have also been announced for Grenada and the states- Carriacou and Petite Martinique.

Grenada, Carriacou and Petite Martinique

The new price of Gasoline will be $14.78 in three of the states, however, the old price was $15.61. On the other hand, customers will have to pay $15.80 for the diesel in these states. The old price was $16.35.

The government of Grenada announced that there is no change in the price of Kerosene so it will remain $12.37.

Grenada- LPG (Cooking Gas)

The price of 20lbs Cylinder has not changed in the revised edition and it will remain $40.00. At the same time, the 100lbs Cylinder will cost $257.25 from Monday onwards. Grenada will witness $8.15 decline in its price as the old price was $265.40.

While coming to Bulk, there is also a decline of $0.10 in its price in Grenada. Now it will cost $2.65 to the customers.

Carriacou and Petite Martinique

For Carriacou and Petite Martinique, the price 20lbs cylinder will be $49.00 and there is no change from the old price. The 100lbs Cylinder will cost less to the customer as the new price has declined by $8.15. The cost of the cylinder is $280.25.

The Bulk will cost $2.65 as there is a decline of $0.10 in the price.

Notably, the government of Grenada has implemented a petrol tax from January 18, 2023. A tax of $3.50 is charged per imperial gallon of gasoline and diesel. Even, the price cap of $15.00 on petroleum products has also expired.

The Ministry of Finance said that they are monitoring the petroleum products prices and will intervene as necessary if prices exceed $17.00.

The new prices of petroleum products are computer-based on the average of actual cost, freight, and insurance rates for Gasoline, Diesel, and Kerosene, however, for LPG, the mean Caribbean postings for cost was used over the period October 28, 2023, to November 25, 2023.