Gas prices gone down!

By Terresa McCall
Reporter-SKNvibes.com

BASSETERRE, St. Kitts – FOR the first time in more than a year, the price of gasoline at the pumps has fallen below the $10 mark causing some to rejoice and leaving others hankering for a decrease in the price of bus fares.

A press release was recently issued by the Ministry of Finance informing the price at which gasoline is to be sold at the respective pumps with effect from today (Nov. 27). The maximum retail price for a gallon of gasoline at Texaco service stations is $12.24, while at Delta service stations it is $13.82 and $9.96 at Shell service stations.

Since the welcomed announcement was made, vehicle owners have voiced their enthusiasm about the reduction in the cost of fuel as it equates to considerable ease to their pockets. They also noted that they have long anticipated a fall in prices.

In December 2006, the government of St. Christopher and Nevis took the decision to implement the “Full Pass Through System” which threw any benefit or brunt of the fluctuating price of gasoline on the shoulders of the consumers.

Since the employment of that system, gas rose steadily from some $6 to almost $20. However, in recent months, the price of gasoline has been on the decline after reaching a record high ($18.59) at Delta service stations. 

Information provided by SOL EC Ltd. St. Kitts & Nevis, the company that supplies Shell service stations, indicates that February 2007 was the last time gasoline at the pumps was below the $10 mark. The price then was $9.75 per gallon. ~~Adz:Right~~

SKNVibes spoke with vehicle owners who said that since the decline they have seen dramatic decreases in their gasoline bills and are expecting to see an even greater reduction as the price continues to plummet.

One individual told SKNVibes that he has seen an almost 50 percent reduction in his gasoline bill. He explained that his gas bill once sat at an approximate $200 per month but has since dropped to almost $100.

“I am pleased. With the cost of living going up in other areas, it’s nice to have gas prices finally going down and save me a few dollars each week.”

Another vehicle owner and operator expressed, “I am very happy with the decrease!  I use to pay $170 each time I filled up my gas tank, and the last time I filled up it was $110. With the recent decrease, I am expecting that the next time I fill up the bill will be less. I am very happy with this.”

Meanwhile, users of the public transport system are still calling on the government to give serious consideration to decreasing the bus fare, especially since it was recently raised resultant of requests and complaints made by the various bus associations. Their argument was that the then bus fare was not enough to offset the escalating price of gasoline at that time.