The Tribune

By LYNAIRE MUNNINGS

Tribune Staff Reporter

lmunnings@tribunemedia.net

BAHAMAS Petroleum Retailers Association Vice-President Vasco Bastian said an increase in crude oil prices explains why gas prices are nearing $6.

Last September, gas prices fell under $6 for the first time since March and remained consistently under that price. However, as of yesterday, Shell and Esso were $5.98 per gallon, with Rubis at $5.94 per gallon.

“Once you see the price of crude oil start to level up, then that has a direct affect on gas at the pump,” said Mr Bastian.

“So that price increase as a result of the movement in crude oil probably over the last six to eight weeks.

“Remember now, we continue to have challenges with logistics globally.”

Last year, a gallon of gas rose to almost $7, with prices in the Family Islands surpassing that amount.

Mr Bastian is confident that prices will remain consistent and not surpass the $7 mark.

“It’s still $1.50 less than it was last year,” he said.

“Remember last year, August this time, gas was $7.39. Go back and do your research. Gas was $7.39 a year ago.

“I always remember that because that’s the highest it was. So, we’re still good ways off from that, and hopefully, we will never see that price again.”