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26.6 C
Kingstown
Sunday, November 27, 2022
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DIESEL ARRIVES FROM VENEZUELA; CHEAPER VINLEC BILLS EXPECTED

The Venezuelan vessel MV Inmaculada is earlier this week docked at the Hugo Chavez Fuel Storage Facility, built by Venezuela, in Lowmans Bay, St Vincent and the Grenadines, to deliver diesel.

Venezuela is providing diesel at a 35% discount below current market prices.

That means the fuel surcharge on your future electricity bills will be 35% lower than without this support.

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This would come into effect after VINLEC used up the more expensive diesel they had already purchased before this delivery.

“If you want to know what solidarity looks like, you should take a trip down to Lowman’s Bay right now and see a ship called the Inmaculada, which is off the coast of Lowman’s, outside the VINLEC plant, delivering to us today, almost 20,000 barrels of diesel for electricity at heavily discounted rates, which will mean cheaper electricity bills for everybody and I want to thank and recognise the government and people of Venezuela for their solidarity in that regard,” the Finance Minister said.

Minister of Finance Camillo Gonsalves, who was at the time speaking at the opening ceremony of the Everything Vincy Expo.

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Gonsalves also noted that when fuel prices are volatile and rising, and oil production is being cut, this is a generous and timely gesture by Venezuela.

According to Minister Gonsalves, the “Inmaculada” fills our diesel tanks at the Hugo Chavez Facility in Lowmans. Because we already had some fuel on hand, that means we’ll be getting about 15,000 barrels this time, about 525,000 imperial gallons. This is not a one-off. The Venezuelan discounted deliveries will be regular.

Other commitments from Venezuela – like the delivery of free fertiliser for farmers and bitumen for road construction – are progressing well and should arrive in SVG shortly.

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