Motorists in Antigua and Barbuda will pay $1.49 more for gasoline effective October 1, bringing the price to $17.99 per gallon.
West Indies Oil Company Chief Executive Officer Gregory Georges confirmed the increase, which follows a $2 rise one month earlier that pushed gasoline prices to $16.50.
The two adjustments amount to a combined increase of $3.49 per gallon over the period. A government source said diesel prices remain unchanged at $18.83 per gallon.
Prime Minister Gaston Browne signalled the latest increase on Tuesday evening while addressing a reception at the Chinese Embassy marking the 77th anniversary of the founding of the People’s Republic of China.
Browne attributed the higher fuel costs to the conflict between the United States and Iran, saying the government could no longer afford to absorb the increases through subsidies.
“As a small developing country, the government cannot continue its programme of absorbing the increased costs in fuel to shield consumers and it is therefore forced to pass on the increased costs to consumers,” he said.
The Prime Minister described the situation as unfortunate and rejected suggestions that government policies were responsible for the increase. He maintained that Antigua and Barbuda was facing the effects of international developments driving up energy costs.
Browne also stressed the importance of global stability to small economies, welcoming signs of cooperation between China and the United States, which he described as important partners for Antigua and Barbuda.
