PM: 'No concerns' over planned protest by petroleum retailers

Prime Minister Philip “Brave” Davis. Photo: Dante Carrer

As of Friday, September 13, 2024

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.

TalRussell 3 months, 1 week ago

First rumour spells even more bad news of a 7-Eleven takeover of local gas stations translates as a -- Swift kicks out the door for current gas station operators -- Pump profits and running of convenience stores. -- A 7-Eleven takeover.* -- Eliminates all** operators, and swiftly. -- Yes?

ExposedU2C 3 months, 1 week ago

Corrupt Davis has never had any concerns about the Bahamian people other than at election time. He only cares about his equally corrupt business partners and financial-backers who is working with daily to suck our country dry while leaving so many young and old people destitute.

AnObserver 3 months, 1 week ago

He has no concerns that his terrible economic policies of price fixing are forcing small businesses to shut down? Please, can someone show him how to type and use a computer so that he can ask Google or ChatGPT if price controls are a good idea?

ExposedU2C 3 months, 1 week ago

Price controls are a danger to capitalism and equal opportunity for all. But they are an absolute necessity where a monopoly exists as a result of outright corruption and cronyism of the worst possible kind......which is what we have with the Snake and the Greek at the moment. The Snake doesn't mind doing his own dirty work, but the Greek prefers to hide behind his darker lackey.