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Gas prices in Trinidad & Tobago

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Alpha_2nr
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Re: Gas prices in Trinidad & Tobago

Postby Alpha_2nr » August 2nd, 2022, 8:49 pm

Saw this making the rounds on social media today.

Gasolene prices continue to fall in major markets it appears.

https://www.caranddriver.com/news/a4078 ... te-decades

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Re: Gas prices in Trinidad & Tobago

Postby jsr » August 7th, 2022, 6:32 am

By chance anyone knows of any Gas station that is for sale ?

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Re: Gas prices in Trinidad & Tobago

Postby Dave » August 7th, 2022, 10:04 am

Check the older ones that haven't been upgraded. I know those owners was pushing back on Np.

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Re: Gas prices in Trinidad & Tobago

Postby Duane 3NE 2NR » August 16th, 2022, 1:22 pm

Mia Mottley has capped the price at the fuel pump in Barbados until 31st January 2022

The fuel prices per liter, compared to what Trinidadians currently pay at the pump, using a rate of exchange of TT$ 3.40 to BDS$ 1.00, are as follows:

*BARBADOS*

Super Gasoline TT$ 15.23

Diesel TT$ 13.87

*TRINIDAD*

Super Gasoline TT$ 5.97

Diesel TT$ 3.91

Therefore, Barbadians currently pay more for fuel than Trinidadians, as follows:

Super Gasoline - 255 % more

Diesel - 355 % more

Bajan prices are based on what they pay for imported fuel, much the same as Paria Fuels here in Trinidad.

Granted we are an oil producing nation but we no longer have a refinery.

https://nationnews-brb.newsmemory.com/? ... c0_13485b4

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Re: Gas prices in Trinidad & Tobago

Postby Les Bain » August 16th, 2022, 2:13 pm

What's the average Bajan's quality of life though?

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shake d livin wake d dead
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Re: Gas prices in Trinidad & Tobago

Postby shake d livin wake d dead » September 2nd, 2022, 12:40 pm

The short man say Brace yuhself again....come 2023 is more pain
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Re: Gas prices in Trinidad & Tobago

Postby hover11 » September 2nd, 2022, 1:06 pm

shake d livin wake d dead wrote:The short man say Brace yuhself again....come 2023 is more pain
They haven't rioted yet

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Re: Gas prices in Trinidad & Tobago

Postby SuperiorMan » September 2nd, 2022, 1:15 pm

Is it time to leave Trinidad

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Re: Gas prices in Trinidad & Tobago

Postby hover11 » September 2nd, 2022, 1:20 pm

Tbh 2.6 billion in a gas subsidy for a country our size is kinda ridiculous. How much we really want to spend a year to subsidize gas?

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Re: Gas prices in Trinidad & Tobago

Postby st7 » September 2nd, 2022, 1:21 pm

hover11 wrote:
shake d livin wake d dead wrote:The short man say Brace yuhself again....come 2023 is more pain
They haven't rioted yet


have you rioted yet?

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Re: Gas prices in Trinidad & Tobago

Postby Les Bain » September 2nd, 2022, 2:04 pm

Same government that used to rejoice when oil prices high now telling people to brace for more bunta cause oil prices too high.

That party is a bunch of anal sex births, yes.

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DMan7
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Re: Gas prices in Trinidad & Tobago

Postby DMan7 » September 2nd, 2022, 2:49 pm

So if oil prices high we still have to suffer but when oil prices low we still have suffer? Make this make sense. It's best we come out of the oil business, seems like there is no benefit either way.

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Re: Gas prices in Trinidad & Tobago

Postby hover11 » September 2nd, 2022, 2:52 pm

You have a refinery collecting dust there, if only we could of made use it....

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Re: Gas prices in Trinidad & Tobago

Postby 88sins » September 2nd, 2022, 5:14 pm

DMan7 wrote:So if oil prices high we still have to suffer but when oil prices low we still have suffer? Make this make sense. It's best we come out of the oil business, seems like there is no benefit either way.



Dude, you looking at it wrong.
Whoever told you that anything a local politician say or do here supposed to make sense?

dis is Trinidad and Tobago, damn near nothing politicians do here are based in logic or facts or even simple truth.

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Re: Gas prices in Trinidad & Tobago

Postby pugboy » September 2nd, 2022, 5:24 pm

i thought the gasoline prices were already close to world rates and just the diesel have a large subsidy ?
didnt he say 2 years ago we going to a full liberalized price where dealers could charge whatever price like in other countries ?
this would remove this subsidy chasing

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Re: Gas prices in Trinidad & Tobago

Postby fallen_angel » September 2nd, 2022, 10:53 pm

while they cutting all the subsidies the citizens getting they should also cut the subsidies the politicians getting

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Re: Gas prices in Trinidad & Tobago

Postby maj. tom » September 2nd, 2022, 11:06 pm

nah that is "part of the pay package."
Tighten your belt.
Eat Cassava from Ghana.

Any other sound bites needed?

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Re: Gas prices in Trinidad & Tobago

Postby nervewrecker » September 2nd, 2022, 11:19 pm

Time to go electric yes.

Some of these electric motor cycles speaking to me in ways I can't explain.

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death365
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Re: Gas prices in Trinidad & Tobago

Postby death365 » September 3rd, 2022, 5:00 am

It's all well an good for now ....


Electricity in Trinidad and Tobago is produced by natural gas, and in Europe gas price is 4x higher now and with Russia playing the foolish it will stay up.

That's the window for t&tec to ask for rates to go up.
nervewrecker wrote:Time to go electric yes.

Some of these electric motor cycles speaking to me in ways I can't explain.

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shake d livin wake d dead
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Re: Gas prices in Trinidad & Tobago

Postby shake d livin wake d dead » September 3rd, 2022, 6:14 am

Everything could go up except salaries....that math not mathsing. So the "all over the world crew" should also have a look at salaries all over the world before trying to make a nonsensical argument.

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Re: Gas prices in Trinidad & Tobago

Postby adnj » September 3rd, 2022, 6:31 am

shake d livin wake d dead wrote:Everything could go up except salaries....that math not mathsing. So the "all over the world crew" should also have a look at salaries all over the world before trying to make a nonsensical argument.


"All over the world" factoid: the median household income is about US$10,000 per year. Let the stupidshitt begin...

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Re: Gas prices in Trinidad & Tobago

Postby S_2NR » September 3rd, 2022, 6:37 am

gas prices dropping worldwide though so this is bs

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Re: Gas prices in Trinidad & Tobago

Postby timelapse » September 3rd, 2022, 7:10 am

Is funny how the 'all over the world ' work ethic, cleanliness, environmental concerns, discipline and other good things don't apply here

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Re: Gas prices in Trinidad & Tobago

Postby 88sins » September 3rd, 2022, 7:25 am

timelapse wrote:Is funny how the 'all over the world ' work ethic, cleanliness, environmental concerns, discipline and other good things don't apply here


daz cuz Trinidad is not a real place, and God is from here so we exempted from plenty ting.

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Re: Gas prices in Trinidad & Tobago

Postby nervewrecker » September 3rd, 2022, 8:36 am

88sins wrote:
timelapse wrote:Is funny how the 'all over the world ' work ethic, cleanliness, environmental concerns, discipline and other good things don't apply here


daz cuz Trinidad is not a real place, and God is from here so we exempted from plenty ting.
Check up on the green agenda.

Yes we have some companies planting a few trees as their contribution to carbon sequestration but that's all they will really accomplish.

Square pegs, usual usual. I holding my tongue on it....unless a certain engineer decide to put his best foot forward.

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Re: Gas prices in Trinidad & Tobago

Postby hover11 » September 3rd, 2022, 9:36 am

nervewrecker wrote:
88sins wrote:
timelapse wrote:Is funny how the 'all over the world ' work ethic, cleanliness, environmental concerns, discipline and other good things don't apply here


daz cuz Trinidad is not a real place, and God is from here so we exempted from plenty ting.
Check up on the green agenda.

Yes we have some companies planting a few trees as their contribution to carbon sequestration but that's all they will really accomplish.

Square pegs, usual usual. I holding my tongue on it....unless a certain engineer decide to put his best foot forward.
Not gonna happen when those same companies and that engineer are all friends. Private sector contributes nothing but profits off everything.

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Re: Gas prices in Trinidad & Tobago

Postby Alpha_2nr » September 4th, 2022, 11:57 am

S_2NR wrote:gas prices dropping worldwide though so this is bs



My thoughts exactly. Prices are dropping in the USA, with only a small spike due to this weekend's holiday there.

Also, looking at WTI prices, they are trending downward. So what exactly is the Minister's justification here?

I'd welcome feedback from those more familiar with the industry/trading etc.

Side note: looks like another bout of "fantastic" investigative reporting from the media :lol:

https://www.eia.gov/outlooks/steo/report/prices.php

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Re: Gas prices in Trinidad & Tobago

Postby DMan7 » September 4th, 2022, 12:37 pm

Maybe he looking at future projections of energy prices not just in the moment prices?

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Re: Gas prices in Trinidad & Tobago

Postby eliteauto » September 4th, 2022, 12:59 pm

Question: Wouldn't countries like the US experiencing price drops for fuel not be coming down from prices significantly higher than those we pay locally? So why lower prices are expected here when ours are not at the market rate, notably when their prices increased earlier?

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Re: Gas prices in Trinidad & Tobago

Postby Rovin » September 4th, 2022, 1:11 pm

https://trinidadexpress.com/newsextra/g ... YejJMO5qH0

Gas prices to rise again

Sep 3, 2022

Expect fuel prices to increase again as the Government looks to cap the fuel subsidy at $1 billion.

In his presentation at the Spotlight on the Economy at the Hyatt Regency in Port of Spain yesterday, Finance Minister Colm Imbert said the fuel subsidy is estimated to cost the Government $2.6 billion for 2022 at current energy prices.

He extrapolated that for fiscal 2023, it could cost $2.1 billion based on US$97.50 a barrel of oil.

He observed that for the month of March, when oil prices were at US$130, the Government’s fuel subsidy was $309 million.

In May, it was $310 million.

In June, it was $341 million.

“We are going to end this year with the Government having to have spent $2.6 billion on fuel subsidies in the last 12 months,” Imbert said.

He said the Government had expected a fuel subsidy of about $800-900 million.

“Nobody ever expected prices to remain at that level -105, 110, 120, that sort of thing,” he added.

“I don’t think we, as a country, can afford that. We have to, as the Prime Minister indicated, set up a limit on the amount of subsidy that we can pay and the rest of it will be used for other, more desirable, more productive purposes,” he said.

T&T’s motorists have enjoyed a fuel subsidy for the past 46 years. The public consumes over one billion litres of fuel a year, for just over one million cars on the road, for a population of 1.4 million.

In the past 20 years, the Government of T&T has spent over $31 billion on the fuel subsidy.

In 2000, the fuel subsidy was $449 million and remained steady until 2004 when it went up to $913 million.

In 2005 and 2006, it averaged $1.6 billion but then increased steadily to $2.2 billion in 2007, $3.6 billion in 2008, down to $1.6 billion in 2009 and then up to $2.9 billion in 2010.

From 2011 to 2014- the subsidy was over four billion-$4.4 billion in 2011, $4.5 billion in 2012, $4.4 billion in 2013 and 4.1 billion in 2014.

In 2015, it declined by almost half that trending amount to $2.1 billion.

In 2016, it was $400.8 million, $528.6 million in 2017, $739 million in 2018 and $276.7 million in 2019.

Equal distribution of cost

In April this year the price of fuel increased by $1 and diesel by 50 cents.

In a statement to Parliament at the time, Imbert noted that the adjustment was “not to the full market prices, but sufficient to allow an equal distribution of the cost.”

The prices of premium gasoline and super gasoline were adjusted by $1 per litre to $6.75 and $5.97 per litre respectively, while the price of diesel went up by 50 cents per litre to $3.91 per litre.

“It should be noted that the adjustment to the price of diesel at 50 cents per litre is half of the increase in the price of gasoline, in recognition of the fact that diesel fuel is widely used in public transportation and in the transportation of goods. The cost of LPG will remain fixed at $21 for a 20 pound cylinder of cooking gas for domestic customers, which is less than 25 per cent of the true market price and the Ministry of Energy and Energy Industries has been tasked to look at an appropriate price of LPG for commercial customers,” Imbert had said.

In budget 2021, Finance Minister Colm Imbert had announced the liberalisation of the fuel market with fuel prices to be subject to market forces.

He had noted the “process of liberalisation of fuel prices was scheduled to commence in February to March 2022.

“However, in October 2021, it was not expected, anywhere, that oil prices would increase by over 60 per cent in five months,” he said.

In his 2021 budget speech, Imbert had said that, since 1974, the liquid petroleum products market has been subject to public economic policy but it would have been changed in 2021 with the removal of the fuel subsidy.



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