Sharp Increase in Fuel Prices

Gas prices went up sharply over the Easter Holiday and it wasn’t the Easter bunny that brought them. According to a press release from the government that promised lower fuel rates, the hikes reflect sharp increases in the acquisition cost of gasoline, kerosene and diesel.

So, it’s twenty cents more for regular and premium, and eighty one cents more for diesel – which should put a hurting on the productive sector. Also, kerosene has gone up a dollar and 16 cents. But government says it did its part by absorbing half of the increase and couldn’t do much else on kerosene and diesel since the revenue replacement duties on these two items is now zero having been reduced continuously over the past several months.