The Government of Saint Vincent and the Grenadines is cutting the Excise Duty on gasoline by 50 percent. This means savings of approximately $1.05 on diesel per gallon and $1.50 on every gallon of gasoline.
Minister of Finance Hon. Camillo Gonsalves, says all the taxes being paid on gas and diesel amounts to just over 18 percent, this has been reduced to 9 percent resulting in lower prices for the consumer so instead of the current $14.69 per gallon being paid, you pay $13.19 per gallon.
This will happen over the next three months, resulting in a revenue loss of over 3 million dollars for the government.
St Vincent and the Grenadines currently has the lowest gasoline price in the Eastern Caribbean.