The Antigua and Barbuda government is continuing to subsidize fuel costs for consumers despite a near-doubling of what the Antigua Public Utilities Authority pays daily for fuel. According to Antigua News Room, the development was disclosed during Friday's post-Cabinet media briefing.
Director General of Communications Maurice Merchant revealed that APUA's daily fuel expenditure, paid to the West Indies Oil Company, has surged from approximately $460,000 in January to around $886,000 currently — an increase of roughly $426,000 per day.
Merchant confirmed that Cabinet discussed the matter and reaffirmed the government's position. "The government indicates that it will continue to subsidize the fuel cost, the rising fuel cost," he said.
Merchant attributed the sharp increase to ongoing international developments, which he said continue to drive fuel prices higher and place mounting financial pressure on utility providers and governments around the world.
Rather than passing the full cost onto consumers, the government has opted to absorb a significant portion of the increase. The fuel subsidy issue was among several topics reviewed during Thursday's Cabinet meeting as officials assessed the broader impact of global economic conditions on Antigua and Barbuda.
The government has not indicated how long the subsidies will remain in place, but officials stated that efforts to shield consumers from rising energy costs will continue.
