The Tribune

By JADE RUSSELL

Tribune Staff Reporter

jrussell@tribunemedia.net

PRIME Minister Philip Davis said he has "no concerns" about planned action by petroleum retailers threatening to protest outside Parliament next Wednesday.

Raymond Jones, president of the Bahamas Petroleum Retailers Association, told Tribune Business that a protest is planned on Bay Street when Parliament resumes, due to the government’s failure to approve a 25-cent-per-gallon margin increase.

At a Thursday briefing, press secretary Keishla Adderley acknowledged the retailers' concerns, noting that discussions with the government, particularly the Ministry of Finance, are ongoing. Ms Adderley admitted progress has been slow, as balancing retailers' demands with consumer protection is challenging.

Mr Davis, who also serves as Minister of Finance, was asked if he was concerned about the gas retailers' planned action over the unapproved margin increase.

“No concerns,” Mr Davis said as he quickly entered his car on Friday.

Reporters were unable to ask further questions due to his abrupt departure.

The Nassau Guardian reported that some gas stations may close next Wednesday so owners and staff can join the protest.

Gas retailers have repeatedly called for a margin increase, arguing that they can no longer operate under the current fixed-margin regime due to rising costs. Unlike other industries, where prices can be adjusted to cover expenses, the Bahamian petroleum sector operates under government-controlled margins, requiring approval for any changes.

The last margin increase for petroleum dealers was in 2011, when the Free National Movement government, led by Hubert Ingraham, approved a 10-cent increase per gallon of gasoline, raising it from 44 cents to 54 cents. A 15-cent increase per gallon of diesel was also approved. Currently, the government collects over $1.60 for every gallon of gasoline sold in The Bahamas.