Members of the public will soon be paying less for some petroleum products.
Effective midnight, Sunday, March 8, the retail price of gasoline will be adjusted slightly from $2.83 per litre to $2.85 per litre.
The price of diesel will move from $2.23 to $2.12 per litre ??? a saving of 11 cents; while kerosene will now be sold at $1.22 per litre, down from $1.26.
Government has a mechanism in place to adjust petroleum prices in a more timely fashion, whereby prices will be regulated by the Ministry of Commerce and Trade, on the advice of the Division of Energy and Telecommunications.
This mechanism is now in use and price changes will be more frequent (i.e., up or down) in accordance with the imported price of petroleum products.