Vincentians will this month pay the lowest fuel surcharge on their electricity bills since 2011.
Communications Consultant in the office of the Prime Minister, Elson Crick said in a brief statement on Tuesday that VINLEC, the state owned electricity company, has announced a drop in its fuel surcharge for the month of December.
“The 40.65 cents per unit is the lowest since March 2011,” Crick said in a release in which he also announced a reduction in the price of gasoline at the pumps.
He said that as of Monday, the price of gasoline moved from EC$14.42 to EC$13.81 per gallon, a reduction of 61 cents.
It was the third reduction in gasoline prices over the last three months, as fuel prices continue to tumble internationally.
In October, consumers saw a reduction of 40 cents per gallon and in November, the price per gallon fell by a further 46 cents, bringing the total reduction over the three-month period to EC$$1.47.
“The reductions are in keeping with the government’s policy of using a three-month moving average for the price of fuel and reflect a downward movement in the price of oil on the international market,” Crick said.