ST. JOHN’S, Antigua, CMC – The state-owned West Indies Oil Company (WIOC) Limited, Monday, urged the public to desist from engaging in panic-buying of Liquefied Petroleum Gas (LPG) cylinders, insisting that there is no shortage of the product on the island.
“WIOC wishes to assure all customers that there is an adequate supply of LPG and sufficient cylinder availability to meet normal consumer demand. There is no shortage of the product or cylinders, and there is therefore no need for members of the public to stockpile at this time.”
The WIOC said that it also wanted to clarify that there have been no discussions with the government “concerning any increase in the price of LPG cylinders” and that the company is monitoring the situation closely and “taking the necessary measures to ensure the continued reliable supply and distribution of LPG throughout Antigua and Barbuda”.
There has been concern regarding the availability of the product ever since the United States and Israel launched a military attack on Iran, with Tehran in turn launching attacks on ships using the Strait of Hormuz to transport goods.
It is the only route connecting oil-rich countries in the Persian Gulf to the rest of the world, a crucial 21-mile-wide waterway for a fifth of the world’s oil. Normally, 130 commercial ships pass through it every day.
Since the war started, the price of a barrel of oil has increased to more than US$100.
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