On the eve of the implementation of Government’s cap on the price of fuel, we’re learning that gas and diesel will cost even less than initially indicated.
According to a statement from the Government Information Service, from tomorrow gas will retail for $4.39 per litre and diesel $3.85 per litre.
This means that gas will go down 9 cents more than the initial announcement of $4.48, while diesel has fallen further by 18 cents from the $4.03 indicated.
Kerosene remains at $2.36 per litre.
The GIS release notes that given the high volatility associated with refined petroleum products, Government has decided to cap the retail prices of gasoline and diesel.
It is felt that the capping will bring some level of predictability to retail prices of gasoline, while shielding consumers from the full increase of refined petroleum products.
According to GIS, when calculated, the retail prices fell below the cap of the gasoline and diesel.