Finance Minister Eugene Cox has announced the maximum prices for fuel on the Island.

With effect from January 16, the maximum price of gasoline dropped 1.9 cents a litre, diesel dropped 0.8 cents a litre, and kerosene dropped 0.1 cents a litre.

This means the maximum retail prices displayed on the pumps for gasoline is 120.5 cents a litre, diesel is 98.7 cents a litre and kerosene is 75.4 cents a litre.