Barbadians should not be surprised if a change in the price of petroleum products is announced this week. Based on over two years worth of data, the retail price of petroleum products (i.e., gasoline and diesel) changes within the first week or so of every month.
Gasoline prices rose twice and fell once for the year so far (January to March 2018). In January, the retail price per litre was $3.35 BDS, up from $3.27 in December 2017. It then dropped to $3.29 in February and rose to $3.44 in March. Diesel prices fell twice and rose once for the same period. In January, the retail price for diesel was $2.57 per litre, down from $2.58 in December 2017. It then increased to $2.63 in February and decreased to $2.60 in March.
During 2017, there were seven price increases and five price decreases for gasoline. At the end of the year, Barbadians were paying, on average, three cents more for gasoline than at the start of 2017. Diesel consumers saw eight price increases and four price decreases. At the end of the year, Barbadians were paying an average of four cents more for diesel than at the start of 2017.