Fuel prices in Grenada

Fuel Prices in Grenada: What You Pay at the Pump

Grenada, the small Caribbean spice island, currently sees retail pump prices of about $1.384 per litre for both petrol and diesel. That works out to roughly $5.24 per gallon, or in local terms around 3.74 XCD per litre. By global standards Grenada sits in the cheaper-than-average bracket: it ranks 70th out of 170 countries, comfortably below the world average of $1.484 per litre.

Why Grenadians Pay What They Pay

Grenada produces no crude oil of its own. Every drop of petrol and diesel is imported, refined elsewhere, and shipped in — so the landed cost of fuel is hostage to international oil markets, freight rates, and the small volumes a nation of around 110,000 people can order at a time. That import dependence is the single biggest reason prices track global swings rather than any domestic supply story.

The second major factor is currency stability. The Eastern Caribbean dollar (XCD) is pegged to the US dollar at a fixed rate of 2.70 XCD to 1 USD, a peg the Eastern Caribbean Central Bank has held for decades. Because the exchange rate does not float, Grenadians are spared the currency-driven price shocks that hammer importers in places with volatile money. When you see Grenada's pump price move, it is almost always the world oil price talking, not the local currency.

Government policy fills in the rest. Grenada applies a petroleum-based excise structure and import duties on fuel, and the state periodically adjusts the pass-through to shield consumers from the sharpest spikes. That cushioning is part of why the country's prices, while not subsidised to oil-exporter levels, stay below the global mean.

The Price Trend: A Decade of Swings

Tracking data from July 2016 through June 2026 shows just how much oil markets move a small importer. Over that decade the average price in Grenada was about $1.207 per litre. The cheapest pump price on record came on 19 December 2022, dropping to roughly $0.911 per litre, while the peak hit $1.404 per litre on 22 November 2021.

That history tells a clear story. The 2021 high reflected the global post-pandemic demand surge, when crude prices rebounded sharply worldwide. Today's $1.384 sits very close to that record high — a reminder that, for a country with no buffer of domestic production, elevated world prices feed straight through to the forecourt. Today's level is well above the decade average, signalling that fuel in Grenada remains in a relatively expensive phase.

How Grenada Compares

At $1.384 per litre, Grenada is pricier than fast-growing Asian importers like Cambodia but cheaper than many European-influenced markets such as Georgia. Heavily subsidised or war-affected pricing regimes like Syria sit in a different world entirely, while resource-rich West African states such as Guinea show how local policy and production change the picture. To see where Grenada lands among every nation, browse the full ranking of world fuel prices.

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