WIOC CEO EXPLAINS RISE IN FUEL PRICES DESPITE CRUDE OIL PRICES BEING LOWER THAN IN THE PAST

West Indies Oil Company Chief Executive Officer Gregory Georges has again explained what has driven the recent increases in the price of fuel at the pumps in Antigua and Barbuda.
These factors include a sharp increase in margins being taken by oil refiners; this is the difference between the price they pay for crude oil and the price at which they sell gasoline and diesel.
Mr Georges’ comments come on the heels of last Monday’s increase in retail prices.