Barbados Announces Cap On Gas Prices

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Come Friday, consumers in Barbados will pay less for gasoline and diesel.

Prime Minister Mia Amor Mottley announced that the price of gasoline at the pump will be capped at $4.48 per litre, while diesel will be $4.03, until January 31, 2023.

Addressing a news conference on Monday, Mottley said the cap on the Value Added Tax on gasoline and diesel, which was put in place five months ago, would be kept in place.

“We are going to extend that cap at least until the 31st of January, and we are doing that, recognising that Barbadians do need to be shielded some more,” she stated, while noting that things were difficult even for the government.

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“We feel that we have an obligation to shield Barbadians more,” Mottley stated.

“We will now place a cap on the price of gasoline and the price of diesel at the pump and we will hold to that higher price until the 31st of January. To be very precise, if the prices fall below that cap, all of those reductions will be passed through to the consumer. If the prices go above that cap, the Government will hold the line and keep the cap in place,” the Prime Minister declared.

She pointed out that there had been a decline in prices, so Government was not capping at the highest possible price.

“The $4.83 at the pump that you are paying now for gasoline is at a far higher price than what is currently available and to that extent we will absorb the loss on that, because those prices were to have remained in place until the end of January. Since then there was a shipment that came in a little lesser; we believe that we need to cap it at the lesser amount…,” Mottley said.

SOURCE: Barbados Government Information Service/ SLT

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Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

11 COMMENTS

  1. Country recently couldn’t pay creditors and had to restructure debts. How much more can the government dip in that social security piggy bank? A piggy bank expected to run dry in 12 to 20 years. Price caps don’t work. If the company can’t make a profit they will stop selling. If the government tries to absorb cost they will eventually go broke. Not looking good for the region. We kowtow to the might of the USA and turn our backs to the likes of Venezuela/Russia/Iran et al. Know who selling oil at discount now? Russia/Venezuela/Iran. That’s the price we pay for kissing the behinds of our colonial overlords.

  2. And that’s how you govern; decisively, with authority and putting your citizens first. No excuses, no blame game and no b.s. Go Mia!!

  3. Mia runs her country like a responsible single mother. You get up and do what you have to do. No excuses. You get up and find a way to put food on the table and take care of your children whether or not the other party is doing or did their share. No excuses, just action.

  4. actually compared to our last fuel adjustment saint lucia is paying gas cheaper than Barbados the only difference between us is this fee for them will be from now until january 2023

  5. Pjp and maundy..Lewis that is a pm that cares putting her people first..anyway st Lucian’s should know pjp administration is a derailment train..

  6. I’m not a fan of all of Motley’s decisions but I admire her for being an actual competent state leader. We could only hope for one of those in St. Lucia since it’s been well over a quarter century that we had a leader who was concerned progressing sweet Saint Lucia.

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