T&T to increase fuel subsidy
Published:Wednesday | June 11, 2008 | 5:01 PM
Trinidad & Tobago’s government has promised to increase its fuel subsidy to $6 billion by the end of this fiscal year.
The fuel subsidy, which stood at $2 billion in 2007, is being tripled as the twin-island’s government cushions the impact of rising global oil prices.
Finance Minister Karen Nunez-Tesheira said the oil-producing island imports oil, at market prices to maintain its quota to the National Petroleum Marketing Company Limited.
Oil prices closed at US$131 dollars per barrel yesterday.