Press Release:- The Public is hereby notified that in keeping with changes in international oil prices and Government’s application of the modified market pass-through petroleum pricing mechanism, the retail price of kerosene and LPG 100 lb cylinder has changed.
The retail price of gasoline, diesel, LPG 20 and 22 lb cylinders remains unchanged. The price changes take effect from Monday, August 2, 2021.
- GASOLINE remains unchanged at $3.07 per litre or $13.95 per gallon
- Kerosene increased from $1.54 to $2.21 per litre or $7.00 to $10.06 per gallon
- Diesel remains unchanged at $3.07 per litre or $13.95 per gallon
- 20 Pound Cylinder (9.07 kg) remains unchanged at $31.65 per cylinder
- 22 Pound Cylinder (9.98 kg) remains unchanged at $34.81 per cylinder
- 100 Pound Cylinder (45.36 kg) increased from $216.35 to $219.79 per cylinder
Consistent with the upward trend in international crude oil prices, the imported price of fuel into Saint Lucia has increased considerably over the past six months.
Consequently, in an effort to protect consumers from the upsurge in global fuel prices, the Government of Saint Lucia has maintained the $13.95 retail price cap on gasoline and diesel from June 21, 2021.
The government has also continued to subsidize the price of the 20-pound and 22-pound cylinders of LPG and more recently, fully absorbed these imported price increases, resulting in unchanged retail prices.
While gasoline, diesel and LPG are purchased on a weekly and bi-weekly basis, in large quantities to fulfil consumer demand, on average, kerosene is imported infrequently and in relatively smaller quantities.
Following a shipment in February 2021 at a C.I.F. price of $5.80 per imperial gallon, based on the last kerosene shipment in July 2021 used for this current fuel price change, the imported price of kerosene increased by 49.8 percent.
Since there was a five-month gap between the last two importations of kerosene, the domestic price of the product increased sharply, as opposed to the incremental increases observed for other fuel products.
The increase in the price of kerosene thus reflects the steady increases in international oil prices between February 2021 and July 2021.
The public is informed that the next adjustment of the retail price of fuel products will be on Monday, August 23, 2021.