00:00Global oil prices have surged past 100 US dollars per barrel, driven by ongoing geopolitical tensions and supply concerns,
00:09placing renewed focus on how energy-dependent economies like Trinidad and Tobago will respond.
00:16For this country, the implications are complex.
00:19On one hand, higher oil prices can translate into increased energy revenues for the state, providing some fiscal breathing room.
00:27But on the other hand, it raises the cost of maintaining fuel subsidies, which keep prices at the pump relatively
00:34stable for consumers.
00:37As citizens brace for the possibility of higher fuel costs, Finance Minister Divindranath Tanku was asked whether government has a
00:44plan to address the spike and whether the burden will be absorbed or passed on.
00:50His response, there has been no discussion at the highest level.
00:54He tells TV6, quote, this matter has not been discussed at cabinet level, end quote.
00:59That uncertainty leaves open the possibility of future adjustments, particularly if high oil prices persist.
01:06Super Gasoline is TT $5.97 per litre, and that was after the $1 reduction announced in the 2026 budget.
01:16Energy analysts have long warned that Trinidad and Tobago's fuel subsidy can become increasingly costly when global prices rise,
01:25forcing difficult decisions for policymakers between protecting consumers and managing public finances.
01:32The 2024-2025 fuel subsidy averaged at $5 million.
01:36For motorists, transport operators and small businesses, any increase at the pump could have immediate ripple effects, driving up the
01:46cost of goods and services across the board.
01:49And while higher oil prices may boost government's revenue streams, the key question remains, will that be enough to cushion
01:56the impact on citizens?
01:58For now, with no cabinet decision in sight, the nation watches and waits.
02:04Arvishit Wari Ruknarein, TV6 News.
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