Consumers will be paying a bit more for gasoline and diesel and slightly less for kerosene in the next few days.
Effective midnight, Sunday, October 19, the retail price of gasoline will increase by 10 cents from $3.50 per litre, to $3.60.
Meanwhile, the price of diesel will move from $2.75 per litre, to $2.90 – an increase of 15 cents.
The price of kerosene will dip by five cents; this will now be retailed at $1.75 per litre.
Government has a mechanism in place to adjust petroleum prices in a more timely fashion, whereby 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.