News

Government is cutting the Excise Duty on gasoline by 50%. This means savings of approximately $1.05 on diesel per gallon, and $1.50 on every gallon of gasoline.

Minister of Finance, Hon. Camillo Gonsalves, said that all of the taxes being paid on gas and diesel amounts to just over 18%, and this has been reduced to 9%, resulting in the lower prices for the consumer, so instead of the current $14.69 per gallon being paid, $13.19 per gallon will be paid instead.  

This will happen over the next three months, resulting in revenue loss for the Government of over 3 million dollars.

Saint Vincent and the Grenadines currently has the lowest price for gasoline in the Eastern Caribbean.

SOURCE: Agency For Public Information (API)