DLP Government – Price Increase The Way To Go At The Pump
April 15, 2008 5 Comments
At long last, Prime Minister David Thompson in a 5min address to the nation has passed on the increase in petrol to Bajans after technocrats in the DLP Government advised that Barbados could no longer ill afford to cushion the increase in oil prices [which was subsided at US$60 a barrel] to the detriment of the country whilst safeguarding Barbadians.
And why some may ask “what is so good about that?”, the fact remains that Bajans need not only be aware of what is going on but to feel also the impact that is affecting millions worldwide and make the necessary adjustments before it is too late.
With oil reaching at $112US a barrel and the BANCO [Barbados National Oil Company] in the red of $80m US from in curing $8m per month as of midnight tonight Barbadians will pay more at the pump. The PM stated that “Government cannot afford to absorb increases of this magnitude.”
Thompson made the point to the effect that the previous BLP government could have made periodically adjustments along the way instead of saddling the DLP with the problem of a $80m debt to deal with.
The price adjustments are as follows:
Petrol – $2.15 to $2.67 per litre
Diesel – $1.46 to $2.57 per litre
Kerosene – $1.37 to $1.57 per litre
ALSO BOTTLED GAS NOW
100 lbs – $188.15
23 lbs – $49.63
20 lbs – $39.70
Kerosene oil is expected to have VAT removed from it and LPG – Excise Tax.