Govt takes $45 million revenue hit to keep fuel prices steady

Govt takes $45 million revenue hit to keep fuel prices steady

The Saint Lucia government has said it will keep fuel prices unchanged for another three weeks despite rising international oil prices. Prime Minister Philip J. Pierre says this decision is increasing pressure on the country’s finances. At Monday’s Pre-Cabinet Press Briefing, Pierre said his administration has given up EC$44.9 million in revenue since April to protect consumers from higher fuel costs caused by instability in the global oil marke…

St Lucia spends EC$44.9 Million to keep fuel prices stable

Government’s efforts to limit the cost of fuel and Liquefied Petroleum Gas (LPG) have had a combined EC$44.9 million impact on the public finances since the start of the financial year on April 1, 2026. The figure includes reduced revenue from the excise tax on fuel and the cost of subsidising cooking gas. Prime Minister […]