The Ministry of Finance of Grenada has issued an official public announcement outlining adjusted retail prices for key petroleum products across the island nation, including its sister islands Carriacou and Petite Martinique, which will go into effect starting Sunday, October 18, 2026.
Under the new pricing framework, two of the country’s most widely used transportation fuels, gasoline and diesel, will retain their current retail price of $17.00 per Imperial Gallon (IG) with no changes. The third processed fuel, kerosene, will see a modest 14 cent per IG increase, bringing its standardized retail price to $17.00 per IG across the entire nation. This adjustment aligns with a key policy commitment made in the 2023 national budget speech, which called for full price harmonization of gasoline, diesel, and kerosene across Grenada’s territory.
For liquefied petroleum gas (LPG), commonly referred to as cooking gas, pricing adjustments vary by container size and island location. On mainland Grenada, the 20-pound LPG cylinder will keep its current $40.00 price tag, while the larger 100-pound cylinder will rise by $29.95 to a new retail price of $350.00. Bulk-purchased LPG on the mainland will see a 30-cent per pound increase from $3.30 to $3.60 per pound. In Carriacou and Petite Martinique, 20-pound cylinders also remain unchanged at $49.00, while 100-pound cylinders get a $16.00 increase to $363.00, and bulk LPG follows the same 30-cent per pound increase seen on the mainland, climbing to $3.60 per pound.
Officials from the Ministry of Finance confirmed that the new retail prices were calculated using established transparent methodology. Prices for gasoline, diesel, and kerosene are derived from the average of actual procurement costs, plus freight and insurance rates accumulated during the assessment period from September 14 to October 9, 2026. For LPG pricing, regulators used the average Caribbean market postings from Platts, a leading global energy price benchmark provider, over the same assessment window.
As all petroleum products remain classified as price-controlled goods in Grenada, the announcement stresses that no licensed retailer is permitted to deviate from the officially posted prices. To protect consumers from arbitrary price hikes, the government has encouraged residents to immediately report any suspected cases of overpricing to the Price Control and Consumer Affairs Unit, housed within the Ministry of Legal Affairs, Labour and Consumer Affairs, via the dedicated hotline at 435-1459.
The Ministry added that it will maintain continuous monitoring of global and regional petroleum market trends, and stands ready to implement policy interventions if market conditions push benchmark prices for gasoline, diesel, or kerosene above the $17.00 per IG threshold, to keep consumer costs stable.
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