With the Ukraine crisis already impacting fuel prices in Barbados, Government says Barbadians will have to start looking at conserving fuel, even as it seeks to cushion the blow to consumers and the economy.
Minister of Energy Kerrie Symmonds made the point yesterday as economist Jeremy Stephen and president of the Petrol Dealers Association of Barbados, Aldo Ho-Kong-King, warned of more price hikes at the pump should the conflict escalate.
In fact, Ho-Kong-King said the latest increases from midnight on Sunday were just the “tip of the iceberg”. He added that those were from four weeks ago and current global market prices were not yet reflected at the pump.
For the first time in more than two years, Barbadians will have to pay more than $4 per litre of gasoline. It is now being sold at $4.13 per litre, an increase of 14 cents, while diesel has risen by 17 cents to $3.46 a litre. Kerosene costs $1.80 per litre, up by 22 cents. Liquefied petroleum gas has also seen an increase.
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