LocalNews Ministry of Trade observing oil prices by: – March 28, 2011 24 Views no discussions Sharing is caring! Share Tweet Share Share The ministry of trade said Monday it is monitoring the price of oil on the world market.Oil costs have been increasing in the past weeks, blamed by continued unrest in the Middle East and the North African region of Libya, a major oil producer.“We are in fact watching and observing the trend, an upward trend, and of course if that trend continues, certainly it will impact on domestic prices in Dominica,” said Trade officer, Ronnie Guiste.“Whatever happens on the world market is passed on to the consumer so of course if prices continue to increase then you see prices [locally] continuing to move in that direction as well,” he added.Since the start of March, several countries of the Caribbean Community including Dominica, announced a hike in fuel prices.A gallon of gas at the pump here is now EC$13.19, up by 11 cents; Dominicans are paying 62 cents more per gallon of diesel with the price now at EC$13.12.Guiste highlighted however, Dominicans are paying less for fuel than several others in the sub region.“In comparison to the prices in the other OECS countries, we are way below. For example in Grenada, the prices are as high as EC$16.00. St. Lucia is now EC$13.90 a gallon.”Dominica Vibes News
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