propane gas this winter than they did a year ago as a result of the increase in world fuel prices.

Belco Holdings Ltd. president Garry Madeiros said yesterday that the average price of a barrel of fuel imported has risen by 46 percent in the last year, pushing up the cost of electricity and gas on the Island.

And the cost of gas, with the onset of winter, could go up due to a "significant impact'' of the world oil crisis on the fuel supplies of the Island.

The price of oil, and hence electricity and gas on the Island, is not likely to fall in the near future, according to Belco Holdings Ltd's President and Chief Executive Officer, Garry Madeiros.

The hike in the cost of fuel has been attributed to the global fuel crisis, which is affecting the price of oil all over the world.

Full story: Business, Page 17