The St. Kitts-Nevis Observer
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No. 723 • September 5, 2008
 
SKN Observer
GAS PRICES CAPPED UNDER $18 – LOWEST SINCE JULY

By Steve Thomas

Observer Nevis Editor

(Basseterre, St. Kitts) – For the first time since July 1, the maximum price for gas in the Federation has been set below $18 per gallon. This reflects the falling price of crude oil around the world, which this week has dropped about $38, or 26 percent. Crude oil surged to a record $147.27 a barrel on July 11.

According to the Ministry of Finance, as of Sept. 4, the maximum retail prices per gallon are:

Delta Service Stations $17.98 per gallon

Shell Service Stations $15.44 per gallon

Texaco Service Stations $15.64 per gallon

The Aug.15 maximum prices for unleaded gasoline were:

Delta Service Stations $18.12 per gallon

Shell Service Stations $15.16 per gallon

Texaco Service Stations $16.56 per gallon

This is a slight drop from Aug. 8, when prices were set at the following levels:

Delta Service Stations $18.29 per gallon

Shell Service Stations $15.44 per gallon

Texaco Service Stations $16.56 per gallon

This week’s decline in gas prices is still a long way from the level in January, when the average maximum price for unleaded gasoline in the Federation was $12.61.

The highest price level in the Federation was set on July 1, when the cost of oil began to take off. The ministry announced these prices:

Delta Service Stations $18.59 per gallon

Shell Service Stations $16.27 per gallon

Texaco Service Stations $15.29 per gallon

In comparison, on June 27, the maximum prices were:

Delta Service Stations $16.83 per gallon

Shell Service Stations $16.18 per gallon

Texaco Service Stations $15.29 per gallon

Prices crept up during May. The ministry set the following levels on May 22:

Delta Service Stations $16.15 per gallon

Shell Service Stations $15.70 per gallon

Texaco Service Stations $14.02 per gallon

The May prices reflect the acceleration of oil prices throughout April, especially when compared with levels set on March 26, which looked like this:

Delta Service Stations $13.27 per gallon

Shell Service Stations $13.79 per gallon

Texaco Service Stations $13.46 per gallon

On Feb. 20, the maximum retail price was as follows:

Delta Service Stations - $12.24 per gallon

Shell Service Stations - $12.71 per gallon

Texaco Service Stations - $13.18 per gallon

On Jan. 9, the maximum retail prices for unleaded gasoline sold in the federation were as follows:

Delta service stations - $12.37 per gallon

Shell service stations - $12.40 per gallon

Texaco service stations - $13.07 per gallon

Oh, the good old days.

 
 
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