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For the next five months Barbadians will be paying less for gasoline and diesel. Prime Minister Mia Mottley announced that with effect from August 19, consumers will be paying less for gasoline and diesel as the price of fuel at the pump will be capped for the next five months. The new measure complements an earlier measure to cap Value Added Tax (VAT). Gasoline will cost BDS$4.48 (US$2.24) per litre, while diesel will be BDS$4.03 (US$2.01) until January 31, 2023. Mottley also said that the cap on the VAT on gasoline and diesel, which was put in place five months ago, would be kept in place. The Prime Minister further advised that “if the prices fall below that cap, all of those reductions will be passed through to the consumer. If the prices go above that cap, the Government will hold the line and keep the cap in place.” In the meantime over in oil rich Guyana there has been no such relief measures to help consumers cushion the adverse impact of rising cost of living and high fuel prices.
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