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PM Barrow: fuel prices expected to fall

Consumers have had to endure pain at the pump over the steady increase in fuel prices, which also affects the cost of other commodities.   Today, Prime Minister Dean Barrow told the media that consumers can expect a downward trend in the coming months.

Prime Minister Dean Barrow: There was a little bit of a lack so that’s the effect of the lack but with the next shipment that should go down. The next shipment of Diesel we will see a decrease and for the next few months that ought to be the trend. You know that everything depends ultimately on what’s happening abroad with Geopolitics, the way the prices are moving with the fact now that there is going to be decreased productions from Iran give the U.S. sanctions. The decreased production from Venezuela given the internal problems but as you know OPEC and Russia are agreeing in principle to increase production. U.S. Shale is going great so it does look as though for the next few months, perhaps the next half a year there ought to be a downward trend of course it so volatile that anything can happen and that can change. As of now the best assessment is for continuing declines for the next couple of months.

The last change in fuel prices reflected a decrease in regular gas.