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Fuel Price Review 2016

Chief Petroleum Inspectorate Duke Munroe said regional fuel prices have been relatively stable for the 2nd half of 20-16 and said Cayman pays nearly two dollars and 76 cents more at the pump than the regional average petroleum suppliers charge.

The regional averages suppliers are charging for gasoline and diesel have been moderately increasing after a drop in July.

Diesel increased by 25 cents which took the price to a dollar 60 cents per gallon while gasoline is purchased by retailers at one-dollar 50 cents per gallon after a dip in October.

Prices were reduced by the two major oil companies during August and September leading to a network wide decrease.

Mr. Munroe said reduction in oil production by the Organization of Petroleum Exporting Countries O.P.E.C led to spike in prices. The Petroleum Inspectorate said the prices paid at the pump remained on average at four dollars 26 cents per gallon for gasoline and four dollars per gallon for Diesel.

About the author

Mario Grey

Mario Grey

Mario Grey's passion for journalism has been long intertwined with his love of people and culture from his days as a youth growing up in the Cayman Islands. He captained his debate team whilst at John Gray High School and graduated as Head Prefect. He also worked at KVHU FM in Searcy, Arkansas, United States and worked and interned for Radio Cayman News before graduating from the University Of Arkansas at Little Rock in May 2015.

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