Antigua and Barbuda to review petroleum pricing system

Prime Minister Gaston Browne has announced a committee to review the petroleum pricing system in Antigua and Barbuda following demands from fuel wholesalers, retailers, and distributors for higher operating margins. The review comes after several gas stations temporarily closed to protest rising costs, including increased minimum wages, electricity expenses, and credit card processing fees.

While the government rejected immediate margin increases for dealers, Browne acknowledged that the requests were not necessarily unreasonable. He noted that the government has already absorbed millions of dollars in international fuel increases and eliminated a 15% fuel consumption tax to shield consumers. The review will also examine the financial positions of importers like the West Indies Oil Company and suppliers such as Rubis.

Concurrently, local motorists have seen gasoline and diesel prices rise by EC$2 per gallon due to climbing international petroleum costs. Despite these pressures, the Antigua Public Utilities Authority (APUA) has maintained the fuel variation rate for electricity at EC$0.80 per kilowatt-hour for a fourth consecutive month, absorbing part of the increased costs to prevent immediate impacts on consumer utility bills.