Fuel Prices Set to Rise Again Today, PM Browne Announces

Motorists in Antigua and Barbuda are facing another increase in fuel prices today, Wednesday, roughly one month after the last adjustment at the pumps.

Prime Minister and Finance Minister Gaston Browne announced the impending increase on Tuesday during a reception at the Chinese Embassy marking the 77th anniversary of the founding of the People’s Republic of China.

Browne attributed the increase to rising global energy costs, which he linked to the ongoing conflict between the United States and Iran.

“When these conflicts take place, even though we are not close to them geographically, the impact on us is disproportionate,” he said.

“We would have observed what has happened with the increase in the cost of living and in particular, energy costs. In fact, energy costs are going up tomorrow, unfortunately, as we have no control over it.”

The Prime Minister said the government could no longer continue absorbing higher fuel costs to shield consumers, leaving it with little choice but to pass on the increases.

“This has nothing to do with bad policies by my government; it is directly attributable to the conflict in Iran,” Browne said.

He argued that global stability is particularly important to small developing countries such as Antigua and Barbuda, where overseas developments can place significant pressure on household expenses and public finances.

“That’s why we welcomed the signs of cooperation between China and the United States, two countries [that] are critically important to Antigua and Barbuda,” he added.

Browne did not announce the new pump prices or specify the size of the increase.

Attempts to reach West Indies Oil Company Chief Executive Officer Gregory Georges for confirmation of the implementation arrangements were unsuccessful.