Petroleum Products to cost less in Grenada, prices decreased

Grenada: The retail prices of the petroleum products such as Gasoline, Diesel and Kerosene have been decreased in Grenada, Carriacou and Petite Martinique. However, a slight increase has been recorded in the price of 100 lbs Cylinder and the new adjustments came into effect on Monday. 

The price of Gasoline will be $14.77, marking a decline of $0.16 for the customers as the previous price was stood at $14.93. For Diesel, the customers will have to pay $14.45 with a decline of $0.08 from the previous price adjustments of $14.45.

A new price for Kerosene will be $9.77 with a decline of $0.61 from the previous price which is 10.38. In LPG (Cooking Gas), new prices have not showcased many changes with slight modification in the cost of 100lbs cylinder. 

As per the adjustments, the 20lbs Cylinder will cost $40.00 in Grenada with no changes from the previous prices, while $1.30 increment has been recorded in the price of 100lbs Cylinder as the customer will have to pay $217.30, comparing to previous price of $216.00. 

There will be no change in the cost of the Bulk, which will be $2.25. 

For Carriacou and Petite Martinique, the price of 20lbs Cylinder will be $49.00 with no change from previous. On the other hand, the customers will have to pay $240.30 for 100 lbs cylinder, marking an increase of $1.30 from the previous price, which is $239.00. 

The bulk will also remain unchanged in Carriacou and Petite Martinique in new price adjustments with a cost of $2.25. 

According to the Ministry of Finance, the price of petroleum products tends to change according to the fluctuation in the global market. They noted that if the price increased from $17.00, the government would intervene and chance the prices to meet the needs of the citizens in Grenada. 

The prices are also based on the average of the actual cost, freight and insurance rates for Gasoline, Diesel and Kerosene.