In a first, the government of Haiti has increased fuel...

In a first, the government of Haiti has increased fuel prices to match the world market average, resulting in a 44% rise in costs. At midnight on Friday, the new prices took effect, with premium gas costing $2.67 per gallon, regular gas costing $2.19 per gallon, and diesel costing $1.45 per gallon. Kerosene, which is frequently used to light homes during lengthy power outages, saw a price increase to $1.23 per gallon. Previously, the government had bought petroleum products from suppliers at market prices, then sold them to local distributors at a fixed price to shield consumers from price changes. This year, the government incurred a loss of roughly $47.5 million while attempting to safeguard consumers from price fluctuations.

Sunday, 3 September, 2000