The Ministry of Finance Grenada recently announced fuel price cuts for Gasoline, diesel, kerosene, and liquidized petroleum gas (L.P.G.) starting Wednesday, September 18, 2024.
The new pricing structure will apply across all islands from Grenada to Carriacou and Petite Martinique, benefiting individual consumers and commercial sectors.
The price of Gasoline has fallen from $15.86 per gallon to $15.07. It means a cut of $0.79 per gallon, amounting to some 5% lower cost compared to the previous price. The price for diesel has decreased from $15.49 to $14.40, a savings of $1.09 per gallon. Notably, a decrease of 7% compared to its original price.
The price of kerosene has also come down from $11.66 per gallon to the current rate of $10.25, a reduction of $1.41 per gallon. It represents a decrease of approximately 12% compared to the previous price, with a total saving of $11.60. A decrease of roughly 5% compared with the previous price can be noticed.
L.P.G is down by the gallon bulk price from $2.40 to $2.30 after falling exactly $0.10 per gallon.The reduction in fuel prices in Grenada is expected to provide relief to consumers and businesses. L.P.G. will greatly benefit households and businesses that use L.P.G. for cooking, heating, or other purposes.
In Carriacou and Petite Martinique, the price of 20 lbs. L.P.G. cylinders is the same as before at $49.00. However, the 100 lbs. cylinders have seen a price reduction from $255.90 to $244.30, a total decrease of $11.60, a drop of slightly less than 4.5% compared with the previous price.
Bulk L.P.G. prices also dropped from $2.40 to $2.30, for a total decrease of $0.10 per gallon. This decline can easily amount to large savings for people who buy L.P.G. in large quantities.
The Ministry of Finance encourages consumers to be aware of the changes and make necessary adjustments in fuel consumption accordingly. The government will continue to watch the global fuel market and adjust prices as necessary.
This price reduction is expected to provide relief to consumers and businesses across Grenada. These changes are a result of fluctuations in global oil prices and are intended to reduce the impact on local consumers.
Gasoline, Diesel, and Kerosene prices in the Tri-Island State of Grenada are absolutely harmonized in line with statements made by the Minister of Finance in the 2023 Budget Speech. The Ministry of Finance calls on the general public to use petroleum products responsibly and support continued efforts to ensure the sustainability of Grenada’s energy sector.
