Fuel surcharge rate drops again

St. Vincent Electricity Services Limited wishes to advise that customers will see a further decline in the Fuel Surcharge Rate applicable on December bills. VINLEC is pleased to announce that the Fuel Surcharge Rate applicable on December bills is 37.34 cents – 17% less than last month’s figure which was 44.86 cents.{{more}} This decrease is as a result of the downward trend in fuel prices following record increases since the start of the year.

VINLEC wishes to advise that the average price of fuel during November was $8.65 per gallon, compared to $10.03 cents per gallon in November, which is a decrease of $1.48 cents per gallon.

The price of fuel on the international market influences the local Fuel Surcharge Rate which is calculated based on the fuel consumption for the previous month. The Fuel Surcharge Rate has been declining over the past five months, following the movement on the international market. The Fuel Surcharge Rate applicable on December’s bill is the lowest figure for 2008.

We continue to encourage customers to conserve energy in an effort to reduce consumption. VINLEC will continue to monitor the developments in the international market and keep customers abreast with these developments.