Opposition Leader Ralph Gonsalves has issued a stark warning to the public, predicting an imminent and substantial increase in domestic fuel prices that he characterized as a cynical “Emancipation Day gift” from the current administration.
Gonsalves announced that a new round of increases for gasoline, diesel, and low-sulfur diesel is expected to take effect this week, likely on or around July 29th.
This follows a pattern of monthly hikes that occurred on May 29 and June 29. Gonsalves noted that while the government might delay the announcement by a day or two because he has made it public, the increase is inevitable due to rising global costs and mounting government debt to oil suppliers.
He reiterated his earlier prediction made in March that gasoline prices would reach or exceed 20 per gallon byJuly. “That′s what is upon us now,” Gonsalves stated, noting that prices have already surged significantly from the 13.22 per gallon seen in late February.
Gonsalves linked the domestic price volatility directly to international instability, specifically citing the impact of conflict involving the United States, Israel, and Iran. He provided specific benchmark data to illustrate the trend:
- Brent Crude: Rose from US 72per barrel on February 27 to 91 by July 27.
- West Texas International: Increased from US 67per barrel to 84 in the same period.
Local fuel prices have already seen dramatic shifts. Between February and June 29, gasoline and diesel prices rose by nearly 40%, while low-sulfur diesel increased by approximately 35%.
As of late June, gasoline stood at 18.31 per gallon ,diesel at 17.53, and low-sulfur diesel at $17.40.
Gonsalves launched a scathing critique of Prime Minister Godwin Friday’s handling of the energy crisis, accusing him of being “sleeping at the wheel” for three months following the initial global price shocks in February. He specifically accused the Prime Minister of misleading the public regarding “price caps” announced on May 29.
“He said that the price was going to remain for 3 months. He lie,” Gonsalves asserted, pointing out that despite the promised cap, prices were increased again just one month later in June. Gonsalves argued that the government should have implemented smaller, incremental increases earlier to avoid “shocking the system” and to manage the growing debt to oil companies.
Gonsalves used the example of minibus operators to illustrate the local economic hardship. He calculated that a driver using 20 gallons of gasoline a day would face an additional $2,800 per month in fuel costs compared to February. He warned that this level of increase exceeds many drivers’ monthly vehicle payments, leading to an “affordability crisis” where people travel less, economic activity stalls, and “town is like a ghost town”.
Labeling the current administration as the “evil Grinch” waging a “war against the poor,” Gonsalves called for more robust subsidies and a clearer policy to protect vulnerable citizens from the rising cost of living.
