CASTRIES, St Lucia, CMC — The St Lucia government on Monday announced an increase in energy prices, blaming the ongoing global situation, particularly tensions involving Iran and the United States, for the price hike.

Prime Minister Phillip J. Pierre told reporters that during the three weeks from May 4 to 24, crude oil prices for the US benchmark WTI increased by 5.5 per cent to an average of US$100.72 per barrel.

“This increase in oil prices was due mainly to factors beyond our control. These include the continued closure of the Strait of Hormuz, related to the US Navy blockade of Iranian ports, fading hopes of a lasting ceasefire between Iran and the US, and slow progress and doubts surrounding a peace deal between the US and Iran,” Pierre told reporters.