Sunday 19 May, 2019

No adjustments to diesel subsidy, Imbert says

Citizens can rest assured that there will be no adjustments to the subsidy on diesel fuel.

Finance Minister Colm Imbert gave the assurance while speaking at a luncheon hosted by the Trinidad Union Club on Wednesday as he addressed concerns that an adjustment to the $3.41 cost per litre on diesel would drive up the cost of goods.

He noted that a further reduction on the subsidy on diesel would directly affect the cost of goods and services.

Prime Minister Dr Keith Rowley in October 2017 noted that the fuel subsidy was no longer sustainable as it came at too high a cost to Government, thus, would be gradually removed.

The last increase on the cost of diesel was implemented the same year for the 2018 Budget with an increase from $2.30 per litre to its current cost of $3.41. That increase followed a 15 percent hike in the 2017 Budget.

During the last budget while a decision was taken to increase the cost of super gasoline (leaded and unleaded) from $3.97 to $4.97, the costs of other fuels remained untouched in an effort to ease the burden on citizens.

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