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Local Petrol Dealer Warns Increases in Gas Prices Loom

Local petroleum dealer and former president of the Petroleum Dealers Association, Everistus Jn. Marie has warned of an imminent increase on fuel prices in Saint Lucia. Jn. Marie has also urged consumers to brace for price hikes across the board due to the recently imposed increase in the excise tax on fuel. Saint Lucian consumers should expect higher public transportation costs and, higher utility bills and, noticeable markups at retailers and grocery stores. Watch below.

In April 2017, the Allen Chastanet Administration bolted on an additional 60% tax on petroleum imports, increasing the rate from EC $2.50 per gallon to EC $4.00 per gallon. According to a government statement, the revised tax measure is,

 ‘Due to the global financial situation, the Government of Saint Lucia is structuring its policy to limit the number of loans taken to repair and rehabilitate the island’s road network.’

The Ex-Petrol Dealers Association president expects the 60% or EC $1.50 tax increase on petrol products to impact the costs of goods and services. The higher excise gas on petrol imports are expected to take effect in July, 2017.

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