The West Indies Oil Company is seeking an increase in propane prices after reporting that it has been selling the product at a loss, Prime Minister Gaston Browne has disclosed.

Speaking Saturday on the Browne and Browne Show on Pointe FM, Browne said Antigua and Barbuda currently has among the lowest propane prices in the Caribbean.

He said companies transporting propane are also seeking higher rates, while fuel wholesalers and service station operators have requested increases in their respective profit margins.

The government has established a committee comprising wholesalers and retailers to review the entire fuel-pricing system and determine a fair way forward.

Browne said any approved adjustments may be introduced gradually rather than granted in full at once. He said the intention is to move the affected businesses closer to parity while minimising the impact on consumers.

This article was originally published by Antigua News Room. Read the original article here: WIOC Seeking Increase in Propane Prices After Reporting Losses.