Antigua to allow market forces to determine fuel prices

The government of the twin-island nation of Antigua and Barbuda has decided to allow market forces to determine its fuel prices.



The government has also warned that its no longer in a position to subsidise the energy sector with revenue generated elsewhere.



As a result, Antiguans and Barbudans are now paying more for gasoline, diesel and cooking gas.



With the new prices that took effect this weekend, motorists now pay US$4.29 per gallon at the pumps, up from $3.54.



Diesel which previously bore the same price tag now retails at US$4.07.



There has been a marked rise in the cost of cooking gas, with a 20-pound cylinder jumping from $7.82 to 11.94.



A 100-pound cylinder now sells for US$57.84.