Prime Minister the Hon. Baldwin Spencer on Wednesday evening during a radio and television broadcast called on residents for support as his government seek ways of controlling the rise in the price of fuel.

The Prime Minister during his broadcast announced that the price of gasoline will increase to $11.89 per gallon and diesel will also rise to $10.44.

The Prime Minister said that the rising cost of fuel on the world market, the effects of Hurricane Katrina in the Gulf and government's increasing loss in revenue from subsidizing the cost of the commodities have lead to the increases.

He said that over the past year, his government has been subsidizing the price of fuel at a cost of over $1 million per month. He noted that with the recent increases in the price of fuel, government is however still subsidizing the price of gasoline and diesel at over $1 per gallon.

The country's leader also during his address, called on gas dealers to hold the line on requesting a mark-up on their intake. Bus operators and suppliers of goods and services have also been called upon to hold the line on increases in fares and selling prices.

Prime Minister Spencer said that his government will continue negotiations with the main supplier of fuel, the West Indies Oil Company Ltd., in an effort to cushion the population from continuing increases in gasoline and diesel.

He also called on all stake holders to contribute in tackling the situation.

We present below the full text of the Prime Minister's Address:
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