Cooking gas prices fall
Liquified Petroleum Gas (LPG) prices are down.
The reduction was announced by Prime Minister Dr Ralph Gonsalves on Monday, during a press conference at Cabinet Room.
Some of the changes include: in Area One (Kingstown to Campden Park and Kingstown to Arnos Vale), the price of the 20-pound cylinder has moved from EC$36.60 to EC$34.52, the 25-pound from EC$44.50 to EC$41. 91 and the 100-pound from EC$178.10 to EC$167.62.
Decreases have also been applied to Area Two (beyond Campden Park to Keartons, and Villa to Langley Park), Area Three (beyond Langley Park to Fancy, beyond Keartons to Richmond) and Area Four (Grenadines).
Gonsalves said that when the increases were announced back in May, there was a lot of negative talk, so he is glad to see the prices go down, especially in the Grenadines, where the prices have moved from EC$41.60 to EC$39.52 for a 20-pound, EC$49.50 to EC$46.91 for a 25-pound and from EC$199.10 to EC$ 188.62 for a 100-pound cylinder.
âA few weeks ago, there was a big debate when the LPG prices were increased and I said to you at the time that what the Government is going to do rather than do increases or decreases once per year, as has been the case, or sometimes less frequently, we will adopt the policy that we have adopted for gasoline and diesel and kerosene.
âThat is to say when the prices go up for a particular import of energy product, we will have a corresponding increase at the pump and when there is a decrease, they will get the decrease on a rolling three-month averageâ, explained Gonsalves.
He said that SVG has chosen that way of dealing with LPG in the Currency Union and while some countries subsidize LPG, SVG does not, as if that is done, the subsidy would be given to entities like hotels, restaurant and the wealthy, not just to the poor.
âI prefer to take the money and give it to the poor through public assistance and the like, rather than subsiding persons who are able to manage,â explained Gonsalves.
It must be noted that under the Price Distribution of Goods Act, âno person shall sell, buy, or agree to sell or buy any goods at a price greater than the maximum fixed price of that goodâ. Any person who is convicted of contravening this Act is liable to be fined up to $3,000.