According to the experts, reducing energy costs is essential for achieving economic growth.
They are thinking beyond the recent market-led drop in energy prices to around US$58.36 a barrel (oil) and US$2.60 per 1,000 cubic feet (gas).
However, costs should go down further to have a real effect on growth, they argue.
“The impact of the oil price decline is global”, the experts say in a recent paper entitled Caribbean Energy – Macro-related Challenges, written by a number of financial experts, including some from the Caribbean. “It has therefore not improved relative prices for the Caribbean, compared with its trade partners.”