The Tribune

By PAVEL BAILEY

THE vice-president of the Bahamas Petroleum Dealer’s Association, Vasco Bastian, says he is uncertain if gas prices will stabilise anytime soon as negotiations between his organisation and the government continue.

Mr Bastian, CEO of Esso, East Street and Soldier Road, confirmed that Esso fuel stations in recent days increased the price of gasoline per gallon from $6.33 to $6.48.

He explained that Esso stations saw the increase first as “we sell more fuel and our inventory turns over quicker”.

 He said other fuel providers were likely to increase their prices in the coming days. 

 Amidst the ongoing oil disruption sparked from Russia’s invasion of Ukraine, Mr Bastian said while he understands the struggles felt by the average Bahamian at the gas pump, local gas distributors, have little to no say in the matter. 

 “That all depends on how long this war continues,” he said. “I definitely don’t think they (gas prices) are going to stabilise anytime soon, I am hoping that they do, I’m a very optimistic guy. It’s kind of a wait and see situation right now, it looks like Mr. Putin isn’t easing up right now, it’s just a wait and see and I am very concerned.

 “Definitely nobody has any control (gas prices). I tell you and I tell everybody we are not the producers of oil, so we have no say in the game.”

 In reference to recent talks between gas distributors and the government regarding gas price regulations Mr Bastian noted that these negotiations are still ongoing. As such he cannot put a definitive date as to when an agreement will be made between both parties.

 “We are still in negotiations with the government we’re still talking to the government so we have no definite answers on that right now but we are still talking to the government and we’re still hopeful.

 “Right now I don’t want to put a date or time on it. All I can say is I hope it’s very, very soon cause it’s very scary for a lot of the dealers at this time so we’re hoping and praying right now and we’re on our knees hoping that things can get better.”

 When asked what he would say to Family Island gas consumers hit hard by skyrocketing gas prices, Mr Bastian advised that they try to conserve as much as possible to get through these hard times at the pump. The BPDA vice-president also said that family islanders should remain encouraged as he still believes that gas prices may stabilise in the very near future.

 “I would tell the gas consumers in the Family Islands to do exactly what I was telling the driving public in the island of New Providence to try to conserve as much driving if they can reduce their driving as much as possible. If they can use various additives above industry oil and STP gas treatments. If they live in the same settlement as a fellow co-worker or family friend if they can carpool that’s basically it.

 “I want the people in the family islands to stay encouraged and we will get through this together and at the end of the day hopefully everybody will be happy and we can get back to a level of normalisation of gas prices if not in the very, very near future then shortly.”