Categorized | National News

Price At The Pumps Concern Gov’t

As gas prices in New Providence lean closer to a pocket-pinching $6 per gallon, the government has reaffirmed its commitment to curb the rising cost of living.

Over the past several weeks two out of three petroleum companies in The Bahamas have experienced a hike in its prices, and as the summer months near it is expected that the cost of fuel will be bumped up another notch, surpassing the $6 mark.

Amidst growing public concern over the rising cost of fuel, Minister of Environment and Housing Kenred Dorsett confirmed Sunday that the government intends to tackle the issue within the coming weeks.

“What we intend to do is examine all instances where we can possibly determine, having regard for the country’s current financial position, how the government can better the lives of Bahamians through reducing the cost of living,” he said.

“As far as gas prices are concerned, it is a matter that I am certain over the next few weeks that we will bring to cabinet to make a determination on which direction we will go in.”

Gas prices at Texaco and Shell service stations now stand at $5.91 per gallon.

Meantime, Esso gas stations managed to drop their prices to $5.59 per gallon.

During the 2002-2007 Christie administration, former Minister of Trade and Industry Leslie Miller envisioned that The Bahamas could lower prices at the gas pumps by striking a deal with petroleum company Petrocaribe.

Mr. Miller’s ideas to forge the alliance were shot down while 12 other CARICOM members signed onto the agreement with Petrocaribe in 2005.

There has been no talk about The Bahamas pursuing the oil deal since.

Mr. Dorsett confirmed that it is not likely that the new Christie administration will express an interest in Petrocaribe.

“There is no indication whether our administration will even consider that to be an issue to discuss. I am certain over the next few weeks we will address the matter of rising fuel prices in cabinet, but I doubt that dealings with Petrocaribe will be among those talks,” he said.

While there has not been a definite time span allotted to the dialogue on reducing the cost of fuel, Mr. Dorsett noted that the PLP is focused on its promise to reduce the cost of electricity.

“One of the things we did promise the people of The Bahamas is that we would reduce the cost of electricity within our first 100 days in office, and so while my ministry has the mandate to examine renewable energy and alternative sources of energy to assist in the medium to long term exercise to reduce those costs we are certainly going to look at what we can do in the short term to see how we can provide some relief to our people,” he said.

Written by Jones Bahamas

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