From Friday August 19th, consumers in Barbados paid less for gasoline and diesel products.
This is the second price change for August 2022. On August 15th, The Prime Minister of Barbados held a press conference during which she announced a price cap on gasoline (now at $4.48 BDS per litre, down from $4.83, and diesel now at $4.03 BDS per litre, down from $4.28). She also stated that:
“We will now place a cap on the price of gasoline and the price of diesel at the pump and we will hold to that higher price until the 31st of January. To be very precise, if the prices fall below that cap, all of those reductions will be passed through to the consumer. If the prices go above that cap, the Government will hold the line and keep the cap in place.”
Source: Barbados Government Information Service.
The rest of this post explores the second price change for August in five charts.
Chart 1 Below: Month over Month % Retail Price Variance for Gasoline from January to August 2022.
Chart 2 Below: Month over Month % Retail Price Variance for Diesel from January to August 2022.
Chart 3 Below: Retail Prices for Gasoline and Diesel in Barbados from January 2015 to August 2022 (click image to enlarge).
Chart 4 Below: Retail Prices for Gasoline and Diesel in Barbados showing the months of August from 2015 to 2022. Note that there were two prices changes in August 2015 and August 2022.
Chart 5 Below: Retail Price difference for Gasoline and Diesel in Barbados for August 2022.
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