Consumers paid less for gasoline and more for diesel, effective midnight September 14 2022.
The price of gasoline fell from $4.39 BDS per litre to $4.26 ($0.13 / 3% decrease from the second price change in August 2022). In contrast, the price of diesel rose from $3.85 BDS per litre to $3.94 ($0.09 / 2.3% increase from the second price increase in August 2022). Source: Barbados Government Information Service.
The rest of this article will explore the September 2022 price change in five charts and one table.
Table 1 Below: The impact of the September 2022 fuel price change (compared to August) on vehicles with fuel tank sizes ranging between 30 and 90 litres (with increments of 2 litres).
Using Table 1 above, assume vehicle with a 50 litre capacity. It would have costed $219.50 BDS to fill it up with gasoline after the August 18 price change took effect. Following the September 14 price change, the price to fill up would have dropped to $213.00. A savings of $6.50.
Chart 1 Below: Month over Month % Retail Price Variance for Gasoline from January to September 2022.
Chart 2 Below: Month over Month % Retail Price Variance for Diesel from January to September 2022.
Chart 3 Below: Retail Prices for Gasoline and Diesel in Barbados from January 2015 to September 2022 (click image to enlarge).
Chart 4 Below: Retail Prices for Gasoline and Diesel in Barbados showing the months of Sep 2015 to 2022.
Chart 5 Below: Retail Price difference for Gasoline and Diesel in Barbados for September 2022.
caribbeansignal.com is the personal blog of Amit Uttamchandani. The content of this post does not represent the views, beliefs, opinions, et cetera, of Amit’s employers or associates (past, present or future).