Tancoo announces $1 cut in super gas price

News Andrew Gioannetti 3 Hrs Ago

Vehicles at the St Christopher's Gas Station on Wrightson Road, Port of Spain. -

Finance Minister Davendranath Tancoo has announced an immediate $1 reduction in the price of super high-octane gasoline, describing it as the first measure in the 2026 national budget to “benefit every single citizen of TT.”

Tancoo made the announcement early in his budget presentation on October 13, saying the decision was directed by Prime Minister Kamla Persad-Bissessar as part of the government’s drive to restore affordability and “build economic fairness.”

“This is the first announcement by this caring government in this budget that would benefit every single citizen of TT,” he said.

Tancoo added that the change took effect immediately and was intended to provide broad-based relief to the public.

He said the move followed Persad-Bissessar’s instruction to reduce fuel costs in line with the UNC administration’s campaign promises, which included reviewing energy pricing to ensure citizens were not “unfairly overcharged.”

He said the instruction was given by the Prime Minister in light of the UNC’s bid to build economic fairness after the PNM had been unfairly “overcharging citizens for super gasoline.”

The announcement reverses part of the PNM administration’s phased removal of fuel subsidies, which had led to steady increases in pump prices over the past decade.