We also checked with the Financial Secretary about the anticipated lower fuel prices, which had been promised by Prime Minister Dean Barrow in early October. According to Waight, while a dip is expected in the price of Premium with the incoming shipment, whether it will go any lower depends on the volatile global market.


Screen_Shot_2017-11-08_at_7.54.34_PMJoseph Waight, Financial Secretary


“The next item to come is premium gasoline which is from a different source does not come from Petro Caribe we expect that price to go down in step pretty much in the same level as the regular gasoline went down two or three weeks ago beyond that it depends on what the world prices look like but there is not an immediate translation of world prices on to our given the small amounts that we buy in the scheme of things our importation is a fraction of world supply so what happens is that we don’t and transportation costs are high we have to pay for small boats and per unit cost is much higher.”


Reporter


“The price of fuel went down recently as far as you are aware is this the lowest it will reach at this time?”


Joseph Waight, Financial Secretary


“I think we are platoon on that hopefully it will go down some more but it all depends on what happens internationally it could be a scare on Iran or Iraq and boom it will go up again.”


A major factor that affects the local prices is Government’s fuel tax which stands at about 40% of every dollar consumers spend on fuel.

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