Consumers in St. Vincent and the Grenadines, on Monday, began paying less for liquefied petroleum gas, the main fuel for cooking in the country.
Prime Minister Ralph Gonsalves announced the reduction at a press conference in Kingstown, noting that they are in keeping with his government’s policy of reviewing fuel prices every three months and adjusting them accordingly.
In area 1, which includes Kingstown and its environs and encompasses the bulk of consumers, a 20lb cylinder of LPG will now retail for EC$34.52, a reduction of EC$2.08.
In that same area, a 25lb cylinder of the fuel will sell for EC$41.91 down from EC$44.50. A 100lb cylinder has moved from EC$178.10 to EC$167.62.
In area IV, The Grenadines, a 20lb cylinder has moved from EC$41.60 to EC$39.52, a reduction of EC$2.08, while a 25lb cylinder now retails for EC$46.91, down from EC$49.50.
A 100lb cylinder of the fuel will sell for EC$188.62, compared to the old price of EC$199.10.
The prime minister noted that some persons were sceptical of the review system when his government introduced it some years ago, but reiterated that it has been adopted by other Organisation of Eastern Caribbean member states.
“So that for the cynics and the doubting Thomases, once you make the policy in a sensible manner, we can proceed and have things done accordingly,” said Gonsalves, who is also Minister of Finance.
He urged consumers not to compare LPG prices locally to those in other Eastern Caribbean Currency Union member states.
“Because some countries subsidise LPG. This government has taken the decision not to subsidise LPG because if we subsidise LPG, we are subsidising the hotels, the restaurants, the wealthy.
“Of course, we are also subsidising the poor, but I prefer to take the money and give it in support for the poor through public assistance and the like, rather than subsidizing persons who are quote-unquote, able to manage,” Gonsalves said.