Consumers will be paying slightly less for gasoline and a bit more for diesel and kerosene in the next few days.
Effective midnight, Sunday, November 1, the retail price of gasoline will decrease by two cents from $2.30 per litre, to $2.28. Meanwhile, the price of diesel will increase from $1.97 per litre, to $2.02 – an increase of five cents; and the price of kerosene will jump by six cents, this will now be retailed at $1.25 per litre.
Government has a mechanism in place to adjust petroleum prices in a more timely fashion, where prices will be adjusted monthly by the Ministry of Trade on the advice of the Division of Energy.
That mechanism is now in use and price changes will be more frequent (i.e. up or down) in accordance with the imported prices of petroleum products.