The Antiguan government has accumulated a debt of more than $6 million to the West Indies Oil Company (WIOC) as it continues to subsidize fuel prices in an effort to protect consumers from rising global energy costs, Prime Minister Gaston Browne has revealed.
According to Antigua Observer, Browne made the disclosure during his Browne and Browne radio programme on Saturday, June 20th, stating that the administration has absorbed fuel-related costs to maintain affordable prices at the pump for residents.
The Prime Minister's comments shed light on the financial burden the government has taken on as global fuel prices remain elevated. By absorbing these costs rather than passing them on to consumers, the administration has allowed the debt to WIOC to grow beyond the $6 million mark.
Browne indicated that the subsidy represents a deliberate policy choice by his administration to shield ordinary Antiguans and Barbudans from the full impact of international price increases, as reported by Antigua Observer.
