Cap on gasoline and diesel ending

The cap on gasoline and diesel is to be removed at midnight tonight.

The disclosure from the Ministry of Energy and Business, which says the full VAT of 17.5% will be fully reinstated within the price structures.

Introduced last year, it represented a reduction of 35 cents on gas and 25 cents on diesel and was to be in place until the end of January this year.

It was aimed at shielding consumers from the full increase of refined petroleum products.

The announcement comes as Barbadian consumers are set to pay more for gasoline and diesel from midnight, while kerosene will remain unchanged.

Gasoline will go up by 14 cents to $4.08 per litre, while diesel increases by 20 cents to $3.85 per litre. Kerosene continues to be $2.25 per litre.

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