March 27, 2009
Fuel, Flour prices take a dive in SVG

Vincentians who were at the gas pump or at various supermarkets on Monday, March 16th, enjoyed price reductions on two important commodities, as both fuel and flour prices have been reduced.{{more}}

The last reduction in the price of fuel, according to the Commerce and Trade office, came in February of this year. Flour prices, however, had their last reduction six months ago.

A lower freight rate for flour, as well as a drop in oil and wheat prices influenced this reduction in flour prices, according to Trade Officer Fay Ferguson of the Ministry of Foreign Affairs Commerce and Trade.

Fuel prices fell by about $0.90 the most, with the smallest price reduction being $0.15 and were influenced by the drop in the world market prices. Retail Diesel prices went from $8.85 per gallon to $8.10 per gallon, Gasoline retail prices had a $0.15 price reduction, moving from $8.95 to $8.80, while Kerosene prices went from $8.85 to $7.95.

Retail flour prices, which haven’t been touched since October 2008, saw reductions as much as $0.18 per pound on mainland St. Vincent, with the Grenadines receiving a $0.16 decrease on their flour.

Retail flour prices in St. Vincent moved from $1.41 to $1.23 per pound for Area one, which includes Kingstown and the suburbs. Area two prices went from $1.42 to $1.24 per pound. Area two ranges from Arnos Vale on the Windward side of the island to Langley Park on the Leeward side of the island. Area three (North of Barrouallie) prices moved from $1.43 per pound to $1.25 per pound. (OS)