Motorists will be paying less for gasoline and diesel, effective midnight Wednesday, March 16.
The retail price of gasoline will be $3.99 per litre, a decrease of 14 cents, while diesel will move to $3.31 per litre, a saving of 15 cents. Kerosene remains unchanged at $1.80 per litre.
The adjustment was announced on Monday, March 14, during this year’s Budgetary Proposals and Financial Statement. The Ministry of Energy and Business Development was, therefore, directed to adjust retail prices for March 2022.
At this juncture, the Minister is guided by the policy from the Budgetary Proposals and Financial Statement, which speaks to the Capping of the Value Added Tax (VAT) on gasoline and diesel, in an effort to shield consumers from the full increase of refined petroleum products, namely gasoline and diesel.