The government of Antigua and Barbuda has been absorbing part of the impact of rising global fuel prices in an effort to limit increases in the cost of living, Prime Minister Gaston Browne says.

Chief Executive Officer of the West Indies Oil Company (WIOC), Gregory Georges, confirmed that a recent fuel shipment arrived at significantly higher prices, with the steepest increases affecting diesel and jet fuel as global energy markets tighten.

Speaking on his weekend radio programme, Browne said higher fuel costs typically drive up transportation, groceries and other imported goods. He noted, however, that gasoline in Antigua and Barbuda has remained at $14.25 per imperial gallon, with prices kept stable by reducing the amount of consumption tax collected on fuel.

“We have decided to take less taxes to maintain stability in the pricing,” Browne said, adding that the government also absorbed losses during previous global price spikes, including those linked to the war in Ukraine.

While he said the government intends to continue cushioning consumers, Browne warned that sustained global disruptions could eventually force price adjustments.