Director of Trade, Matthan Walter has said customers in Dominica are presently experiencing the lowest drop in gas prices in five years.
New prices came into effect on the island earlier this week.
The price for gasoline now stands at $9.16 a gallon, a drop of 52 cents from the original price.
The price for a gallon of diesel dropped by 84 cents to $7.74, while a gallon of kerosene dropped by 69 cents to $6.58
“In 2008, we were experiencing highs in the price of fuel of up to $16.35 a gallon, so it has been the lowest that we have had prices in more than five years,” Walter explained.
He stated that the drop in prices has to do with the “downward movement where the price of the US barrel of oil is concerned.”
“It moved from a previous average of about $32.73 last adjustment period to now $30.43, so that would be reflected in the postings that we use to determine the new prices for those particular products,” he noted.
Walter, however, pointed out that there has been an increase in the Liquid Petroleum Gas (LPG) across the board.
“For the LPG, the cooking gas as they call it, there were increases across the board…not large increases but there were increases,” he stated. “For the 20 lbs cylinder there was an increase by 17 cents to $23.50, for the 27.5 lbs cylinder, there is an increase from 23 cents, so it’s now $31.93. For the 30 lbs cylinder, there is an increase of 25 cents, so it’s now $34.74 and for the 100 lbs cylinder there is an increase of 85 cents, so the new price would be $112.48 cents…”