GOVERNMENT WILL FOREGO $1.26 MILLION IN TAX REVENUE BETWEEN SEP. 18 AND OCT. 8 TO KEEP PRICES CONTAINED.

Government subsidies have been keeping the retail prices of the 20-pound and 22-pound cooking gas cylinders contained and affordable.

By Oct. 8, 2023, government will surpass its budgeted subsidy amount for LPG cooking gas by more than $500,000, and is projected to spend more than $4.5 million on cooking gas subsidies to offset price increases on the international market.

Between Aug. 21 and Sep. 10, 2023, crude oil prices averaged $225 per barrel. To keep gasoline and diesel prices below $17 for a consecutive three-week period, the government will forego $1.26 million in excise tax revenue during the period Sep. 18 to Oct. 8, 2023.

Government fiscal policy measures are working to keep the prices of petroleum products like cooking gas and fuel as low as possible for the average Saint Lucian household.