Tancoo: No increase in fuel costs
Trinidad and Tobago's Finance Minister Davendranath Tancoo has announced that the government has no plans to raise fuel prices despite ongoing tensions in the Middle East. The decision comes as oil prices have surged in recent days, but Tancoo noted that the country's position as a net LNG exporter makes it more resilient to global supply disruptions.
Trinidad and Tobago's government has no plans to increase fuel prices. Finance Minister Davendranath Tancoo made this announcement amid rising oil prices due to Middle East tensions. The country imports a significant portion of its fuel, but also produces some oil, which will result in increased revenue from higher prices. However, Tancoo noted that shipping costs have also gone up. A mid-term budget review is imminent. The energy minister had previously stated that rising global LNG prices could boost the country's export earnings.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.