In Barbados, consumers will pay less for gasoline and kerosene, and more for diesel, effective this week.
The retail price of gasoline will be $4.26 per liter, a decrease of 13 cents, while kerosene will cost $2.16 per liter, a saving of 20 cents. Diesel will now sell for $3.94 per liter, which is an increase of 9 cents.
Given the high volatility associated with refined petroleum products, the Bajan government capped the retail prices of gasoline and diesel at $4.48 per liter and $4.03 per liter,
respectively.
The capping is expected to bring some level of predictability to the retail prices, and shield consumers from the full increase of refined petroleum products.
When calculated, the retail prices fell below the cap of gasoline and diesel.
Many countries in the region will be looking to their governments, to see if similar arrangements will be made.
Source-Barbados
