Antigua-Barbuda secures freeze on fuel prices
Friday, May 28, 2004
ST. JOHN’S, Antigua: After three days of
negotiations with the West Indies Oil Company (WIOC), the Government of
Antigua and Barbuda has secured a freeze on the price of gasoline and diesel
at the pumps. On Tuesday Prime Minister
Baldwin Spencer assembled a team of ministers and called an urgent meeting
with the principals of the West Indies Oil Company, the suppliers of fuel in
the country, to discuss a proposed increase in the price of gasoline and
diesel. The extended meeting, which concluded at lunchtime on Thursday, was
designed to minimize the effects on local consumers of a worldwide increase in
fuel prices.
Minister of Finance and the Economy Dr.
Errol Cort who led the discussions with WIOC over the past two days said that
he is delighted that as a result of government’s intervention and shared
initiatives by Government and WIOC, prices at the pumps would not be
increasing in spite of the rise in the cost of oil internationally in recent
weeks. Dr. Cort added that most economies in the Caribbean and the USA have
already increased prices at the pumps.
“This relief will continue for at least the
next few weeks, during which time the government and West Indies Oil will
continue to monitor world prices and examine further ways to cushion Antigua
and Barbuda from the full impact of price increases in the future,” said Dr.
Cort. Prime Minister Spencer speaking from
San Juan Puerto Rico where he is in transit to Guadalajara Mexico for the EU-LAC
Summit said that he is pleased with the outcome of the discussions given that
his government’s intervention on Tuesday was structured to protect the
population from the hardship that will result from any increase in the price
of gas and other fuels. He said that while in
Mexico he will be meeting once again with the Prime Minister of Trinidad and
Tobago Mr. Patrick Manning and President of Venezuela Mr. Hugo Chavez to
explore alternative energy sources. Currently
the price of gasoline stands at 7.98 per gallon while diesel is 7.82 per
gallon.
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