On Monday 11th April, a 20 lbs cylinder of cooking gas was set to rise to $62 until the government stepped in with a subsidy of $22.22. This has been the extent of the impact of rising crude oil prices on the landed price of petroleum products entering Saint Lucia.
Prices of all petroleum products are expected to go up on Monday under the three-week fuel revision period, with gas and diesel up by $1.00 per gallon to $15.95 per gallon. This has been the second $1.00 increase in six weeks, and there appears little hope of a respite.
With those recent increases, bus fares are certain to go up soon, to offset some of the rising costs of gas and diesel, the most significant running cost for mini-bus drivers.
Users of 100lbs cylinders of cooking gas should expect an increase to $308.89. With the government offering a subsidy of $22.22 for 20 lbs cylinders, it may make sense to switch from 100lbs to 20 lbs cylinders and save $111.10.
All indications are that prices will continue to rise as long as the Russia-Ukraine conflict continues.