The price of fuel has increased again and is now about 20 percent higher than they were a year ago, with the Ministry of Finance announcing a price hike effective yesterday.

Gasoline costs went up by 6.6 cents per litre, diesel by 3.0 cents per litre and kerosene by 2.7 cents per litre.

As a consequence, Government said the maximum retail prices displayed at the pumps are:

Gasoline $1.82/litre

Diesel $1.50/litre

Kerosene $1.26/litre

Gas prices have soared about 36 percent since July, 2004 when the price of crude oil began to rise on world markets.

The price of a litre of gasoline then was $1.33. In June, 2005 it was $1.52 a litre, since which time it has risen 19.7 percent.

Yesterday, the price of a barrel of crude oil for September delivery fell $1.16 to $71.89 a barrel on the New York Mercantile Exchange, the lowest closing price since June 26.

But prices are up 8.8 percent from a year ago.