The Tribune

By LEANDRA ROLLE

Tribune Staff Reporter

lrolle@tribunemedia.net

ECONOMIC Affairs Minister Michael Halkitis said gas retailers and consumers can expect to hear several announcements from the government in a few weeks relating to possible gas relief.

This comes after several Family Island residents yesterday told The Tribune that there was an immediate need for government intervention in response to rising fuel prices.

In New Providence, the cost of gas at Shell stations is $6.35, while both Rubis and Esso stations have set gas prices at $6.33 per gallon. At Autoserve Shell at Marathon, gas is $6.30

However, at some islands, the cost of gas has already surpassed $7 with fears that the number can rise as high as $10 or more a gallon by summer’s end.

Mr Halkitis, with other government officials, have met with gas retailers twice in recent months to discuss their concerns about the sharp rise in fuel costs.

Vasco Bastian, the Bahamas Petroleum Dealers Association’s (BPDA) vice-president, has said he expects either tax reductions or margin increases will occur before the Davis administration kicks off the budget debate in the House of Assembly later this month.

Asked about the issue yesterday, Mr Halkitis did not want to say what sort of gas relief initiatives are being looked at by the government. But he assured Bahamians that officials had no plans to approve any margin increases, noting the move as “counterproductive”.

He also said the Davis administration is working feverishly to come up with solutions and hopes to speak more on the issue soon.

“They (BPDA) have been in the press talking about the challenges they face inclusive of high rents and high franchise fees and we’ve met with them in trying to come to a position where the government can help them. They have presented some proposals to us which we have taken away to study,” the minister said.

“We have undertaken that we’ll come back to them to have a resolution by budget time. I’ll leave it at that but just to say that (the) prime minister has participated in both meetings as an indication of his commitment to assist. Again, if the solutions were easy, they would’ve been done already, but we’re looking at a number of the ways that we think we can help them, so expect to hear something in a matter of a few weeks.”