Subsidies To Assist With Price of Fuel
While fuel prices rise, the Government of Dominica continues to implement measures to keep fuel prices under control.
On Friday, the ministry of Trade announced the latest prices for petroleum products as follows: Gasoline retail price stands at $18.66 per gallon, Diesel retail price stands at $17.13 per gallon while Kerosene now stands at $16.67 per gallon.
According to a release, without the Government’s intervention by way of waivers and subsidies, the retail price of gasoline would be $20.43 and Diesel $18.14.
However, the government will continue applying a waiver of the Customs Service Charge on gasoline and diesel and the granting of the subsidy of EC $0.21 cents per gallon on diesel. Further, due to a greater increase in the global price for gasoline the Cabinet approved an increase in the subsidy on this product from EC$0.60 cents per gallon to EC$0.85 cents per gallon with immediate effect until the retail price of each product returns to below EC $15.00 per gallon.
The implementation of these measures will result in continued revenue loss to the state. However, the Government of Dominica remains committed to actions to cushion the impact of escalating world fuel prices and the current inflationary increases affecting basic household items.