Fuel Price Mystery Mechanism
The following was extracted from caribbeansignal.com website.
Barbadians should be aware there is a policy by the government to pass on changes in the price of oil to the consuming public at the pump. The impact is that for private and commercial users it will positively and negatively be a cost push effect factor influencing price. Will the government in the interest of transparency publish the pass through calculation that determines price at the pump?
From mid-night February 6, consumers in Barbados paid less for diesel while the price of gasoline remained unchanged. The retail price of diesel dropped from $3.34 BDS per litre to $3.29, five cents or -1.5% less, than the previous month. The price of gasoline remained unchanged at $3.99 BDS per litre (Source: Barbados Government Information Service).
The rest of this post explores this month’s price change in five charts.
Chart 1 Below: Month over Month % Price Variance for Gasoline (2022 Retail Prices).
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