Petroleum prices to increase

Barbadians will be paying more for petroleum products, effective midnight, Sunday, April 3rd.

The price of gasoline will be $4.13 a litre, an increase of 14 cents. Meanwhile, diesel will cost $3.45, and kerosene, $2.11, an increase of 14 cents, and 31 cents, respectively.

In a BGIS release, it was noted that in an effort to shield consumers from the full increase of refined petroleum products, Government had announced in its Budget and Financial Proposal 2022 the capping of the Value Added Tax on gasoline and diesel.  However, it says in light of increasing oil prices internationally, the prices had to be adjusted upward for April.

Meanwhile, the adjusted price of the LPG 100-lb cylinder will be $167.69. The 25-pound cylinder will retail at $47.02; the 22-pound cylinder, $41.55, and the 20-pound cylinder, $37.77.

These changes are in keeping with the retail prices of these products on the international market.