Bahamas Government to meet with petroleum dealers
The Bahamian Government has agreed to meet with executive members of the Petroleum Dealers Association (BPDA) today afternoon after the group sent a letter requesting assistance to address issues facing the industry.
The meeting comes as some elements of BPDA’s plan to shut their operations over the Easter weekend in protest of operational costs, which they claimed have worsened due to rising fuel prices.
Bahamians now pay over $6 for a litre of fuel, and petroleum dealers earn less than one dollar on every litre they sell.
On the sidelines of today’s cabinet briefing, Minister of Economic Affairs Michael Halkitis sought to alleviate the fear of a gas shortage over the long weekend.
“In that letter, we did not receive any threat of a strike by the petroleum dealers. I think they quite rightly understand that when you communicate with the government, you do it in good faith…so there is no threat from the Petroleum Dealers Association for a strike. Maybe some element or one or two, but our communication with the association has not included any request,” the minister said.
Halkitis noted that the increased fuel price is not adding extra income to the treasury since the tax on petrol is fixed while diesel is a combination of a fixed and fluctuating tax.
“We all lament the increase in fuel price brought on by external circumstances,” he added.
Works Minister Alfred Sears expressed a similar sentiment. They said the government is trying its best to ensure Bahamians are not negatively affected global fuel crisis, which developed following Russia’s invasion of Ukraine in late February.
He said the Bahamas Power and Light Company’s (BPL) hedge strategy would continue to mitigate the impact on consumers.
At last month’s 33rd Intersessional Meeting of CARICOM Leaders, Prime Minister Philip Brave Davis said his government will find ways to avoid further burdening citizens with increased taxes and living expenses as many are now starting to rebound from the COVID-19 pandemic.
“Lord knows that our people can least afford to have more taxes or costs visited upon their backs. My government will do all to see how we can avert raising the cost of electricity on our people,” Davis said.
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