CARIBBEAN PETROLEUM UPDATE is a monthly Bulletin which highlights petro-

leum issues affecting or relevant to the Caribbean, international developments that may affect the region’s way of life and movements in oil prices and retail prices for fuel regionally.

Synopsis of Energy

Consumption

Source: Regional Focal Point, CEIS, Jamaica

Percentage of Energy Consumed in the

Major Sectors of the Caribbean.

CONTACT US Caribbean Energy Information System

Scientific Research Council Hope Gardens, Kingston 6, Jamaica

1-876-927-1779 (Telephone)

1-876-977-1840 (Fax)

ceis@src-jamaica.org www.ceis-caribenergy.org

continued on page 2/

Recent increases in international oil prices have hit many countries like the

tsunami experienced earlier this year by Japan. As early as January 15

international oil prices hit the US$100/barrel mark and since then have

remained within the same ball park. Most of the countries within the region

are oil dependent and have had to deal with the ill effects of these

increases. Swift action on the part of some governments, have helped to

cushion the impact on the consumers while some countries have not

yet acted. The Caribbean Energy Information System (CEIS) presents an

up-to-date status on each country relating to actions taken on Petroleum

prices and Electricity costs.

RETAIL PETROLEUM PRICES

ANTIGUA & BARBUDAANTIGUA & BARBUDA -No direct action has been taken on the part of

the Government. However the opposition, Antigua Labour Party (ALP),

has suggested that the Government could offer subsidies and lower tax

intake to help consumers.

BAHAMAS (The) BAHAMAS (The) -No direct action taken on the part of Government.

SkyBahamas Airlines (the 2nd largest airline of The Bahamas) plans to

increase ticket prices if oil prices continue to increase.

BARBADOS BARBADOS -No apparent action taken by Government.

BELIZEBELIZE -Increased import duties averaging one dollar per gallon have

been placed on fuel. There was also removal of GST from Gasoline and

Diesel.

B.V.I. B.V.I. -Bunker fuel surcharge (inclusive of inter-island cargo shipment)

has been increased.

CUBACUBA -No apparent action taken by Government.

DOMINICA DOMINICA -No apparent action taken by Government.

Caribbean Energy Information System (CEIS)

April 2011

page 2 Call: 1-876-927-1779 | Caribbean Petroleum Update : April 2011

C A R I B B E A N E N E R G Y I N F O R M A T I O N S Y S T E M ( C E I S )

Recent Actions taken by Countries to deal with the Effects of Oil Price increases

continued from page 1/

from Belize - Comisión Federal de Electricidad (CFE),

Mexico has increased by 52% since January 2011 and this

cost is being borne by Belize Electricity Limited.

B.V.I.B.V.I. -Reduced fuel surcharge per kwh by 22% in January,

then increased fuel charge between February and April by

61% when compared to the January.

DOMINICADOMINICA -Increased fuel surcharge per kwh by 8%

between January and February. Increased further by 26%

between February and March 2011.

GRENADAGRENADA -Increased fuel surcharge rates in March and

April by 17% and 25% respectively. Reduced non-fuel

charge by 0.96% in February 2011.

GUYANAGUYANA -There were no increases in electricity rates.

However, the government is subsidizing the additional cost

for fuel used in generation.

JAMAICAJAMAICA -Increased fuel surcharge on March bill by

approximately 17%.

MONTSERRAT MONTSERRAT -Increased fuel surcharge rate between

26% and 30% since January 2011. However, a duty exemp-

tion is provided to the Utility Company for fuel with only

charges of a 5% (service charge) on the fuel used for Gen-

eration.

ST. KITTS/NEVIS ST. KITTS/NEVIS -Imposed an increase of 82% in elec-

tricity bills as a result of new approved tariffs on February

11, 2011.

ST. LUCIAST. LUCIA -No increases in electricity bills.

ST. VINCENT/GRENADINESST. VINCENT/GRENADINES -Removed demand charge

of $12/KVA installed (commercial & industrial customers).

Marginal adjustment made to base rate in March 2011.

Increased fuel surcharge component of the electricity bill by

43% January 2011.

SURINAME SURINAME -No increases in electricity bills.

TRINIDAD/TOBAGOTRINIDAD/TOBAGO -No increases in electricity bills.

TURKS/ CAICOS TURKS/ CAICOS -IIncreased electricity cost by 6.2%.

GRENADA GRENADA -Reduced tax collected on each gallon of

Gasoline sold by 50 cents, the maximum allowed under

the law at any price change.

GUYANAGUYANA -Lowered import duties on Gasoline from 30

per cent to 20 per cent to help ease prices at the pump.

JAMAICAJAMAICA -Reduced Ad-Valorem tax by 5%.

MONTSERRAT MONTSERRAT -No apparent action taken by Govern-

ment.

ST. KITTS/NEVIS ST. KITTS/NEVIS -No apparent action taken by Gov-

ernment.

ST. LUCIA ST. LUCIA -No action taken on the part of the Govern-

ment. Opposition calls for the implementation of meas-

ures to help consumers cope with rising fuel prices.

ST VINCENT/GRENADINES ST VINCENT/GRENADINES -No apparent action

taken by Government.

SURINAME SURINAME -No apparent action taken by Government.

TRINIDAD/TOBAGO TRINIDAD/TOBAGO -No apparent action taken by

Government.

TURKS/CAICOS TURKS/CAICOS -Imposed an additional tax of 25

cents per Imperial gallon on Gasoline. Now the total tax

on Gasoline is 75 cents per Imperial gallon.

ELECTRICITY RATES

ANTIGUA & BARBUDAANTIGUA & BARBUDA -Increased fuel surcharge

component of utility bills by 5% and 11% in March and

April 2011 respectively.

BAHAMASBAHAMAS (The) -Increased fuel surcharge component

of the electricity bill by 20%.

BARBADOSBARBADOS -Increased fuel surcharge by 34% since

January 2011.

BELIZEBELIZE -There was no increase in the cost of electricity

to the consumer. However, the cost of purchasing power What do you think about this Issue?

Share your thoughts with us at

ceis@src-jamaica.org

Caribbean Petroleum Update : April 2011 | Call: 1-876-927-1779 page 3

C A R I B B E A N E N E R G Y I N F O R M A T I O N S Y S T E M ( C E I S )

Things to know

Trinidad & Tobago provides incen-

tives to drive the usage of Com-

pressed Natural Gas (CNG)

>>Learn More

Jamaica’s Office of Utilities Regula-

tions (OUR) seeks public comment

on Net Billing Policy

>> Learn More

Jamaica’s Office of Utilities Regula-

tions extends deadline for submis-

sion of bids for 480MW of power -

April 29, 2011 >> Learn More

REGULAR UNLEADED GASOLINE

AVERAGE PRICES AT THE PUMP

January - April 2011

Average prices in the various countries are compared to December 2010 to

show the current situation. See prices for other products at See prices for other products at See prices for other products at www.ceiswww.ceiswww.ceis---caribenergy.org caribenergy.org caribenergy.org ...

NOTE:

*US Gallon = 3.785 L

*Imperial Gallon = 4.546 L

*As at November 1, 2009 MTBE was phased out from all gasoline blends in

Jamaica and replaced with 10% Ethanol.

Unleaded Gasoline: Regular : Average Retail Price (US$/Litre)

2010 2011

COUNTRIES DEC JAN FEB MAR APR

ANTIGUA/ BARBUDA 1.00 1.00 1.00 1.07 1.15

BAHAMAS [91 OCT] 1.23 1.24 1.25 1.30 1.45

BARBADOS 1.39 1.47 1.48 1.49 1.59

BELIZE [87 OCT] 1.28 1.33 1.34 1.48 1.50

B.V.I [87 OCT] 1.01 1.12 1.13 1.20 1.27

DOMINICA 0.96 1.01 1.05 1.06 1.07

GRENADA (95 OCT) 1.08 1.05 1.06 1.17 1.23

GUYANA 0.96 0.99 0.99 1.06 1.08

JAMAICA 87 Octane[E10] 1.13 1.17 1.18 1.25 1.28

MONTSERRAT 1.12 1.13 1.14 1.18 1.23

ST. KITTS/ NEVIS 0.96 1.04 1.07 1.20 1.14

ST. LUCIA 1.07 1.14 1.14 1.16 1.22

ST. VINCENT/ GRENA-

DINES

1.01 0.99 0.98 1.00 1.06

SURINAME [95 OCT] 1.13 1.21 1.32 1.34 1.43

TRINIDAD/ TOBAGO [92

OCT]

0.42 0.42 0.42 0.42 0.42

TURKS/ CAICOS 1.36 1.36 1.36 1.42 1.42

page 4 Call: 1-876-927-1779 | Caribbean Petroleum Update : April 2011

C A R I B B E A N E N E R G Y I N F O R M A T I O N S Y S T E M ( C E I S )

The Average of monthly World Crude Oil

Prices seen in February 2011 was 3% above the

annual average seen in 2008 - deemed the year

when the highest percentage increases were seen

in oil prices over the past decade. In comparison

to 2009 and 2010, the average price in February

2008 was 63% and 27% above the annual aver-

age seen respectively for those years.

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Caribbean Energy Information System (CEIS) primary report of historical annual petroleum energy statistics provided for 18 Caribbean Countries. Included are data on total energy production, consumption, and trade; overviews of petroleum, natural gas, electricity, as well as financial and environmental indicators for over twenty years.

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