KINGSTOWN, St. Vincent, Oct 23, CMC – The St. Vincent and the Grenadines government says new fuel prices as a result of the ongoing global market conditions, will go into effect as of Monday next week.
Prime Minister Dr. Godwin Friday told Parliament that while the cost of a gallon of gasolene will be EC $17.29 (One EC dollar-US$0.37 cents) a decrease of EC$1.02), the price of diesel will increase by four cents to EC$17.57 and low-Sulfur Diesel will be retailed at EC $17.73, an increase of EC$0.33 cents).
Friday said that to help cushion the impact of volatile international oil markets, the government is continuing critical relief measures including a 50 per cent reduction on the Excise Tax.
He said the halving of excise taxes on gasoline and diesel, in place since May 2026, remains active to keep pump prices as low as possible and that the electricity relief, which in October the government provided a record US$798,591 monthly subsidy to the state-owned St.. Vincent Electricty Services Limited (VINLEC) remains in effect.
The government said that since May, this subsidy which is so far valued at EC$3.9 million would have otherwise driven the electricity fuel surcharge past 92 cents per kWh.
Prime Minister Friday said the government remains committed to using every tool available to shield citizens from global economic shocks while building toward a sustainable, renewable energy future.
CMC/lkc/ir/2026