The government is continuing to absorb a substantial portion of the country’s fuel costs as APUA’s daily fuel bill approaches $900,000, according to information disclosed during Friday’s post-Cabinet media briefing.
Director General of Communications Maurice Merchant said Cabinet reviewed the growing cost of fuel and reaffirmed its commitment to maintaining subsidies designed to shield consumers from higher electricity costs.
Merchant revealed that APUA’s daily fuel purchases from the West Indies Oil Company have increased from approximately $460,000 in January to about $886,000 today.
Despite the sharp increase, the government has opted to continue subsidizing fuel costs rather than pass the full burden on to consumers.
“The government indicates that it will continue to subsidize the fuel cost,” Merchant said.
The subsidy has become increasingly significant as international fuel prices remain elevated, placing additional pressure on utility providers and government finances.
Merchant said Cabinet discussed the issue as part of a broader review of economic conditions and the impact of global developments on Antigua and Barbuda.
While no figure was provided for the total value of the subsidy, officials said the government’s intervention continues to cushion households and businesses from the full effect of rising fuel costs.
The matter is expected to remain under review as global energy prices fluctuate.
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