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Review of Fuel Prices In Barbados for 2018

Twas the evening before Christmas, when all through the house, not a creature was stirring, except for my computer mouse and the desire to analyze a data set! The spreadsheets were saved with care, in hope that someone would do the analysis for the year! (with apologies to Clement Clarke Moore). 2018 Year In Review…

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Twas the evening before Christmas, when all through the house, not a creature was stirring, except for my computer mouse and the desire to analyze a data set! The spreadsheets were saved with care, in hope that someone would do the analysis for the year! (with apologies to Clement Clarke Moore).

2018 Year In Review

On average, the price of gasoline was $3.64 BDS per litre ($3.09 in 2017).

On average, the price of diesel was $2.91 BDS per litre ($2.31 in 2017).

The average price increase for gasoline was 4 cents (3 cents in 2017).

The average price increase for diesel was 5 cents (4 cents in 2017).

Gasoline, on average, was 73 cents more expensive than diesel (78 cents in 2017).

The price of gasoline was at its lowest in February: $3.29 per litre ($2.78 in January 2017).

The price of diesel was at its lowest in January: $2.57 per litre ($2.13 in June 2017).

Gasoline was at its highest price in July: $3.96 (fuel tax implementation).

Diesel was at its highest price in July: $3.21 (fuel tax implementation).

Read full report posted to caribbeansignal.com website on 24 December 2018 – 2018 Year In Review: Fuel Prices In Barbados

65 responses to “Review of Fuel Prices In Barbados for 2018”

  1. Georgie Porgie Avatar
    Georgie Porgie

    SIMPLE SIMON
    YOU SAID Fortunately I am proudly lower class/working class,

    WHAT DOES MAKE YOU?
    FIRST OR SECOND?

    AFTER ALL 2nd is 2nd. 2nd is what comes AFTER 1st. 2nd is NOT first.

  2. Artax Avatar
    Artax

    “What happened to the plan by the BLP team to wrestle the problem to the ground?”

    David BU

    Perhaps you should direct that question to Mia Mottley, Dr. William Duguid, Peter Phillips and Gregory Nicholls.

    What I can tell you is the Ministry of Transport, Works and Maintenance has TWO ministers and there has not been any SIGNIFICANT or FUNDAMENTAL changes at the Transport Board.

  3. Enuff Avatar
    Enuff

    David

    Isn’t the government moving to wheelchair accessible and AE buses? I am sure I saw tenders in the newspaper.

  4. David Avatar
    David

    @enuff

    Isn’t that a long term solution if it becomes a reality? We say IF because of the garbage truck fiasco.

  5. NorthernObserver Avatar
    NorthernObserver

    @Artax
    what was missing was….tenders received by 4.30pm Friday January 11, 2019. will be PUBLICLY opened at 4.45pm Friday January 11th @”specific location”.
    A public tender process, given all the multiple reasons for exclusion or disqualification, is without merit, unless the tenders are OPENED PUBLICLY, as soon after receipt as is possible, to avoid any ‘post tender bid adjustments’.

  6. NorthernObserver Avatar
    NorthernObserver

    Unsure in a monopoly market that a formula has value.
    In cold places, there is long a story of the elderly gentlemen who ventures out at 6am, clad only in a mid-length skirt and a long sleeve shirt and boots, who walks 1km, returns home, and calls the weather office to tell them what the temperature “feels like”. You will later hear, based on the mercury the temperature is -7C, but “feels like” -15C.
    The price of gas at the retail pump, is based on how much money the GoB “feels like” making. It follows no fixed formula.

  7. Artax Avatar
    Artax

    NorthenObserver

    What government seem to be proposing is a public/private sector arrangement, where they are essentially saying to the bidders: “you are responsible for sourcing and financing the importation of 120 to 180 electric buses over a period of 12 to 18 months, as well as building the necessary electrical infrastructure to accommodate the maintenance of these buses………. you also provide technical support services……..

    …………. while we, the Transport Board, are responsible for providing the administrative support services, licensing and insuring the units, installing fare boxes, etc.”

    My problems with this proposed arrangement are:

    (1). How will this arrangement affect UCAL’s contract with TB, especially if there is a plan to completely phase out the old buses?

    (2). Since the bidder will have to finance the cost associated with the importation of the buses and other technical arrangements…….what will be the profit sharing ratio?

    (3). Supposed after reviewing the audited financial statements of local bidders, TB decides they do not have the requisite finance to qualify?

    (4). Supposed, for example, ANSA McAL Motors Group or Massy Motors bids and wins the contract? Based on the terms and conditions as outlined in the bid proposal, Trinidad would have a “controlling interest” in our “public” transport system.

  8. Vincent Codrington Avatar
    Vincent Codrington

    This is another classic example of spinning top in mud. How did we reach here?

  9. Vincent Codrington Avatar
    Vincent Codrington

    I agree. That is why it is necessary to isolate the tax components before assessing the relationship between the price of crude-oil and the local supply price. Please note the ratio of tax to the price at the pump in Ontario( 37.5 cents out of 113 cents Canadian submitted earlier.

  10. Donna Avatar
    Donna

    Barbadians have adjusted to the transportation problem and are no longer crying out. It does not take long for the Barbadian to shrug a shoulder and say, “Wuh yuh want me do?” Once the noise dies down so does the effort to address the problem Try starting a conversation about the poor transportation with the average Bajan and you will see what I mean.

  11. Donna Avatar
    Donna

    We got here by shrugging our shoulders and asking, ” Wuh yuh want me to do?” No real demand for accountability from the electorate. We vote and we done.

  12. NorthernObserver Avatar
    NorthernObserver

    Good reasons why the tender opening should be public?
    I am guessing the TB will be responsible for more than you stated, like the provision of drivers/conductors, scheduling etc etc
    It becomes analogous to a PPP, BOLT, BLOT etc. I imagine the profit you speak of, is taken care of in the tender, by the provider of buses. The TB then has to eek out a profit based on these and other input costs deducted from revenue.
    Given the cat is now out of the bag, namely the risk associated with a public venture in Barbados is not ZERO, that risk factor will be reflected in bids?
    Given the apparent difficulty in acquiring a dozen used garbage collectors, one may assume acquiring this number of electric buses is well beyond the GoB’s capabilities. We know that “maintenance” of anything is a perennial challenge in the public sector.

  13. David Avatar
    David

    Here is the Chairman pontificating.

    http://www.nationnews.com/nationnews/news/227059/-oil-supplier

  14. hants1 Avatar
    hants1

    Barbados’ lone electric utility has served notice it wants an increase in electricity rates.

    http://www.nationnews.com/nationnews/news/229151/bl-rate-hike

  15. SirFuzzy (Former Sheep) Avatar
    SirFuzzy (Former Sheep)

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