There has been a reduction in the price of gasoline.
Effective midnight, Thursday, August 6, the retail price of gasoline will be reduced by 20 cents, from $2.41 cents per litre, to $2.21 per litre. The price of diesel and kerosene has been adjusted downwards by 13 cents and two cents, respectively, and will now be retailed at $1.85 and $1.15.
Meanwhile, the price of Liquefied Petroleum Gas (LPG) has increased. From midnight, Thursday, August 6, the retail price of LPG will be increased from $108.98 per 100-pound cylinder to $134.70, a hike of $23.87; the 25-pound cylinder will now be retailed at $36.26 – an increase of $6.43, while the 20-pound cylinder will now cost $29.01 – a mark-up of $5.14.
At a meeting on June 5, Cabinet had instituted a mechanism to adjust petroleum prices on a monthly basis in keeping with international trends related to the pricing of petroleum products.