Reprinted from Caribbean Net News
caribbeannetnews.com
ROSEAU: Dominica: Already burdened with new taxes, Dominicans will have to dig deeper into their pockets to dish up an extra EC$0.27 (US$.01) per gallon for fuel at the pumps.
On Saturday, government's Director of Trade Allan Paul disclosed: ''It was observed that there was a 2.4% increase in that price for fuel and well as for diesel the average increase was 8.81%.''
Mr. Paul explained that a pricing formula introduced last September to protect government's revenue has ''occasioned an $0.08 increase in fuel at the pumps and $0.27 increase per gallon for diesel.''
The new prices for fuel will be EC$8.04 (US$2.98) and diesel EC$7.16 (US$2.65) per gallon making a 6% increase for consumers in 18 months.
Mr. Paul added that any downward or upward movement in world petroleum product prices will be reflected on the local markets.
Fuel prices have been rising in Dominica since 2002 after government targeted this area and others to generate revenue in an economic stabilisation and adjustment programme with the International Monetary Fund.
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