The Tribune

By RASHAD ROLLE

Tribune Senior Reporter

rrolle@tribunemedia.net

THE vice president of the Bahamas Petroleum Dealers Association is confident the government will boost his industry amid soaring gas prices, calling the Davis administration the best he has ever dealt with.

Gas dealers had threatened to go on strike just two weeks ago before the Easter holiday. However, after a meeting with the government, that threat was called off.

Now, vice president of the association Vasco Bastian says the future is bright for his industry even as Russia’s war on Ukraine rages, fueling high gas prices.

“The government is committed to making sure at the end of the day consumers and dealers are treated fairly,” he said yesterday. “This has been the best government I have dealt with in the last ten to 15 years with regards to the concerns of dealers and the Bahamian people who continue to support us. Remember now, our problem didn’t just begin overnight. We’ve been struggling in this business and fighting to stay afloat for the last ten to 15 years. I think there is a lot of light at the end of the tunnel so I applaud the government and the efforts for sitting down with us once again. Our plight has been long-standing.”

Mr Bastian declined to say what measures the government is likely to implement. Minister of Economic Affairs Michael Halkitis met representatives of the retailers association last week. He said the government hopes to implement a new policy in time for the new budget.

Financial Secretary Simon Wilson has said “everything is on the table” to address the issue, including tax relief.

Another potential remedy gas dealers have advocated for include changing the fixed margin for retailers so they could make more money.

Mr Bastian said: “The government and the Bahamian people know that we provide an essential commodity and we should be able to gain a liveable return on our investments as contributors to this economy. We are Bahamian men and businesswomen who have suffered for so long and we are happy that the government understands it and members of the financial sector of the government are working along with us to try and help us before our industry gets to the point where there will be owners and operators losing their business.”

Government and association representatives expect to meet again within the next month.

Mr Bastian said while there should be a reduction on the price of diesel at one station this week, people can only be optimistic that the worst is in the past when the Ukrainian crisis concludes.

“The prices of fuel last week increased. I know at Esso (today) if my memory serves me correctly, diesel should be coming down based on the numbers I saw this morning, a reduction in diesel at Esso gas station pumps. I don’t have all the information about Rubis and Shell with me.

“The worst is not behind us. As long as there are issues with Ukraine and Russia and as long as this war drags on, we won’t be out of the woods. The minute this war comes to an end and even if America quadruples their output, then there might be some sign of that but to say that the worst is behind us right now, I cannot say that and I refuse to say that.”

Gas prices are more than $6 a gallon at fuel stations in New Providence, with fears the number can rise as high as $8 a gallon this summer.