St Lucia Raises Gasoline to EC$16.75 as WTI Climbs 5.5% on US-Iran Tensions
Updated
Updated · Jamaica Gleaner · Jun 3
St Lucia Raises Gasoline to EC$16.75 as WTI Climbs 5.5% on US-Iran Tensions
2 articles · Updated · Jamaica Gleaner · Jun 3
Summary
EC$16.75 per imperial gallon is St Lucia’s new gasoline price from June 1, while kerosene rises to EC$10.41 after the government cited higher global oil costs.
WTI averaged US$100.72 a barrel in the three weeks to May 24, up 5.5%, which Prime Minister Phillip J. Pierre linked to the Strait of Hormuz closure and dim prospects for a US-Iran peace deal.
LPG prices were held unchanged at EC$34.20 for 20-pound cylinders and EC$38.22 for 22-pound cylinders, with government subsidies of EC$35.46 and EC$38.41 keeping retail prices far below market levels.
St Lucia is also subsidising transport fuels through a negative excise tax—86 cents per gallon on gasoline and EC$1.21 on diesel—with the three-week cost estimated at EC$1.2 million.
Pierre said fuel-tax revenue is expected to run EC$10.2 million below the 2026-27 budget, while LPG subsidies are tracking above plan, and promised any easing in global prices would be passed to consumers.
As fuel subsidies drain millions from St. Lucia's budget, is its ambitious green energy transition now at risk?
With its largest-ever budget facing a revenue collapse, which of St. Lucia's 'people-centred' promises will be sacrificed first?
Saint Lucia’s June 2026 Fuel Price Adjustment: Global Oil Volatility, Local Impact, and Regional Energy Strategies
Overview
Saint Lucia has raised fuel prices for gasoline, diesel, and kerosene starting June 1, 2026, as a direct result of rising global crude oil prices and increased petroleum product costs. These changes are mainly driven by ongoing geopolitical tensions, including Iran’s closure of the Strait of Hormuz and continued strikes by Israel and the United States, which have disrupted global supply and pushed prices higher. Despite these challenges, the Saint Lucian government is keeping Liquefied Petroleum Gas (LPG) prices stable for consumers through subsidies, helping households avoid even steeper energy costs during this period of global uncertainty.