For a few weeks now, the price of regular gasoline has hovered at 11 dollars and 2 cents per gallon. Well, as of midnight last night, it broke the eleven dollar mark. Regular gasoline went down by 13 cents, and is now $10 dollars and 89 cents per gallon.
The pump price for kerosene also went down by 43 cents from 8 dollars and 64 cents per gallon to 8 dollars and 21 per gallon.
It is certainly a welcomed relief - but it will only be a temporary respite from punishing fuel prices. Government is cautioning that you should get too comfortable who those prices, because they are likely increase again.
The Ministry of Finance explains that this decrease came about because PUMA got this shipment of fuel last month when global oil prices were on the tail end of a sharp decline.
But now that oil prices are trending back up over the past 2 weeks, Government expects that these decreases will be short-lived.
The Government release ends saying, quote, "The Government will continue to monitor the situation very closely and will remain engaged with PUMA and other stakeholders involved in the local supply chain to work out ways to keep prices in check as much as possible."
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