Price of gasoline goes up; cost of LPG decreases

gasEffective Monday, July 20, the cost of gasoline went up slightly in Dominica, while the prices for Liquid Petroleum Gas (LPG), diesel and kerosene have dropped.

The price of gasoline went up by 25 cents and one gallon now costs $13.30 from the old price of $13.05.

Diesel prices went down by 54 cents and is now being sold at $10.72 per gallon from $11.26.

Likewise the price of kerosene has dropped by 50 cents and is now being sold at $9.23 per gallon from $9.73.

In the area of LPG the following are the new prices:

-20 lbs cylinder was $23.96
Now 23.64
Decreased by 32 cents

27.5 lbs cylinder was $32.57
Now $ 32.13
Decreased by 44 cents

30 lbs cylinder was $ 35.43
Now $ 34.96
Decreased by 47 cents

100 lbs cylinder was $114.78
Now$ 113.21
Decreased by $1.57

Director of Trade Matthan Walter has sought to explain how the price of fuel is calculated in Dominica.

“I want it to be clear as to how is it that we calculate the price of fuel so that there are no particular misconceptions,” he told Dominica News Online. “I know that there is the notion that because of the fact that there has been a bit of stability on the downward side as it relates to petroleum products, that the reflective price on the market is supposed to be lower. But I want to first state that there is a particular formula that is being used to calculate the price of fuel.”

He informed that this formula or the price build up consist of a variety of different components that make up final cost per gallon of petroleum products.

“We look, at for example, freight, in-transit loss, customs and insurance, excise tax, landing cost, terminal ling, haulage, distribution margin… and then we look at fuel postings,” he explained.

And those positings, he said, “are what we use and we average them over a four-week, five-day period to calculate the price of fuel.”

He stated that for the past four weeks, they have realized that there has been an elevated posting for gasoline in particular, but for diesel and kerosene there has been a slightly downward movement.

“So I just wanted to make that clear, so that persons know that this is not a calculation that is being done in any unorthodox way,” Walter noted. “But it is one that is being done based on a price buildup, based on a set formula that were put in place by cabinet after intense and very thorough consultations with the importers of fuel here in the Commonwealth of Dominica.”

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  1. wilderness
    July 24, 2015

    Mr. Matthan Walter I say bull. With the oil prices dropping by the day you come with this asinine crap? As soon as the oil prices rise the gas goes up, not in a week, as soon as you hear it or read about it, it goes up. Bull !

  2. Justkum
    July 24, 2015

    To be generous say a man receives a daily pay of EC$70 (basic wage is about EC$40). He drives 20 miles to work and back using a vehicle that consumes 1 GL every 15 miles. (20/15*13.3)..he spends almost $18 daily to get to work and back. ($18*5 days=$90)–$90/$350=0.257 (25.7%)…right about 1/4 of his wages is consumed in fuel at this price. Of course this percentage will increase if he drives more than 20 miles everyday or if he drives his car on Saturdays and Sundays. Jimmit and Soufriere are about 8 miles (16 miles both ways) from Roseau in either direction. Shouldn’t 1/4 of your wages account for more than just fuel?
    I’m saying life in Dominica is hard enough as it is. Anyway the gov’t can alleviate the plight of Dominicans will be greatly appreciated..wasn’t Petro Caribe set up to help this cause? Instead we have higher fuel prices, higher electricity prices..The high officials pay their gas bill from taxes of poor citizens and ride around in AC all day..something’s gotta…

  3. Justkum
    July 24, 2015

    I notice everybody here singing the same tune. Nobody likes to pay higher prices, especially when they feel robbed.. when it comes to the pockets of the common citizen forget about party politics. This should be the kind of objective approach to every government policy
    This formula explained by Mr. Walter leaves much to be desired. Ironically he says he wants to explain, but alas Dominicans still confused because it is flawed.
    If the base item (barrel of oil) drops in price, how in the wide world of mathematics will the retail price at the pump go up unless the price of some other multiplier increases? Mr. Walter would do well to get his head around the 1,2 or 3 factors of those he mentioned that increased in price to better explain. And what the heck are these “postings” that so divinely dictate Dominicans misery at the pumps? Dominicans should park home every time prices pass $10 without reasonable explanation..

  4. memoi
    July 23, 2015

    Things not hard enough for us, come on make it harder. It that all you have?

  5. Peter Potter
    July 23, 2015

    Never in all my life have I heard such nonsense. This government really takes the citizens for total fools. I worked for Shell PLC for a while and I know exactly how retail prices (pump prices) for gasoline and diesel is calculated. One thing is for sure, it is nothing like the formula this government uses. There formula is a total fictious one that was designed to calculate prices in a way that is very favourable to the DLP regime. What is happening in Dominica right now is, that the government is increasing fuel prices on an ongoing basis even though the world market price for crude is going down on a weekly basis. What is happening here right now is the indroduction of a stealth tax, that will cost every motorist in DA in the long run a lot of money. Don’t let them get away with it!

  6. AA
    July 23, 2015

    Mr, skeritt crude oil prices on the international market year on year is down almost 50% how is it that the price of fuel at the pumps is so exorbitant, what skeriit vodonomics you trying to work there? are you trying to get more taxes from fuel by increasing the excise tax on DOM technically? Why cant you publish the price build up we have a right to know. you will never be able to close the massive fiscal gap that you are operating under there with your failed policies. Haven’t you realized that you have failed miserably and you need proper help, not the kissers you have following you around. Dominica is heading right back to austerity under this regime, only this time there will be no help from the international community, see how greece was treated, this is the new standard, so continue with the joy ride

  7. beef
    July 23, 2015

    mr walter stop your crap, why dominica is the only caribbean country that fuel price goes up when the other caribbean countries going dow, and you all get fuel from the same providers, who you trying to fool with your nonsense, dominica and dominicans will never catch their self, dominicans will always live a pauper life under these people.

  8. Anonymous
    July 23, 2015

    The price of crude oil is now at an all time low of 48 us a barrel. Why is gas going up in this sad country. Dominica open your eyes. Why is fuel imported into this country for the use of all citizens being taxed? We have a record number of cars being imported into this country is that why the gas is so expensive yet our roads suffer in every area.Wake up my people

    July 23, 2015

    prime minister,
    do you increase the price on gas as it approaches month end even if the market value of gas remains stagnant?.

  10. i must speak
    July 23, 2015

    Woooyeee look kicks… :lol:

  11. Dominican
    July 23, 2015

    I think our leadership follow the events re energy costing and stop complaining about global economics.
    They should look in these directions to benefit from cheaper gas for Dominica.
    Although I am 100% for renewable energy the reality right now is that we are nowhere near any substantial green energy development and there is currently too much waste and this Petro Carib Debt. Hoping the budget will shed some light.
    In very recent times, President Barack Obama made a historic nuclear deal that provides economic sanctions relief to Iran in exchange for the dismantling of their nuclear program. This in itself represents a powerful display of leadership and diplomacy.
    Iran is OPEC’s fourth-largest oil producer and has already piled up tens of millions of barrels on floating barges that can be exported in fairly short order after sanctions have been lifted. They will follow that with increased production from its oil fields capable of raising daily production to 3.4 million to 3.6…

  12. awa wi
    July 23, 2015

    why are these professionals throwing themselves under the bus in a poor attempt to pull the wool over the eyes of Dominicans? so are we to believe that gasoline componential costs( freight, in-transit loss, customs and insurance, excise tax, landing cost, terminal ling, haulage, distribution margin and fuel postings) are increasing while similar products such as kerosene and diesel are decreasing? while the cost of oil decreases on the global market it is not reflected in fuel costs in Dominica even with the concessions given by petro-Caribe? what about government taxes etc what does that contribute to the cost of fuel? suspect that we are facing some hidden taxes since this government cannot possibly face the public with new taxes in the upcoming budget so the next best option is too raise fuel prices and get some poor dupe afraid to lose his job to come on and put some spin to it with a lot of technical jargon designed to make people think they don’t understand what’s going on.

  13. Ma Lav
    July 23, 2015

    Is it me or what I notice that gas prices are going up just before month end.

  14. Oh Yes
    July 23, 2015

    Policies, arrangements, calculations are all relative. Prices SHOULD be adjusted based on the factors you articulated PLUS taking into consideration the following: the ability of the consumer to pay; cost of living; government’s tax structure as it relates to fuel; price sensitivity; the actual logic behind the formula being used, that is, is it a means to an end for tax collection? The tax regime needs to be reviewed. The consumers are being disadvantaged.

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