Chief Executive Officer of the West Indies Oil Company (WIOC), Gregory Georges, says Antigua and Barbuda is already feeling the effects of rising global oil prices, confirming to Antigua.news that a recent fuel shipment arrived at significantly higher costs.

According to Georges, the sharpest increases have been recorded in diesel and jet fuel, reflecting the impact of the latest surge in the international energy market.

He spoke to Journalist Shermain Bique Charles on Monday.

The development comes as Brent crude jumped more than 9 per cent on Friday to surpass US$93 per barrel, marking the highest level since the autumn of 2023 and sparking concern about potential economic fallout for import-dependent countries like Antigua and Barbuda.

The spike in oil prices follows a stark warning from Qatar’s Energy Minister, Saad Sherida Al-Kaabi, who told the Financial Times that the escalating conflict in the Middle East could force Gulf oil and gas exporters to halt production within days.

Al-Kaabi cautioned that disruptions to key shipping routes and energy supplies could pose a systemic threat to the global economy.

For Antigua and Barbuda, which relies heavily on imported petroleum products for electricity generation, transportation and aviation, sustained increases in global oil prices could place additional pressure on fuel costs, electricity rates and the overall cost of living.