It is costing tax payers three hundred million dollars ($300 million) a month to cover the fuel subsidy or three point six billion dollars ($3.6 billion) a year.
Prime Minister, Dr Keith Rowley, provided the figures while speaking at a news briefing on Monday.
Dr Rowley noted that the government has decided not to adjust the fuel subsidy on Liquefied Petroleum Gas due to the vast number of households which utilise it.
Trinidad and Tobago, Dr Rowley said, earned 8 billion dollars from the recent increase in the price of oil internationally but he described the situation as temporary.
Dr Rowley also revealed some of the factors which are impacting significantly upon the country’s economy.