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Talks keep going - as gas prices keep rising

(stock photo)

(stock photo)

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.”

Comments

jus2cents 1 month, 1 week ago

Bahamas Government can help anytime they want, by reducing their taxes on gas.

And in the grad scheme of things, this would benefit the government as well.

Why is nobody pushing / reporting this?

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ted4bz 1 month, 1 week ago

As far as I observed there are no less vehicles on the road than any time before. So it seems the gas price changes do not really matter. In the 90’s I fill my vehicle with $30.00. $30.00 remained my weekly budget from then to this day; my budget did not change with the price changes. So it does not matter to me what the gluttonous, the political gangsters and their control masters do. I am not begging them to lower gas prices, nor am I egging-on their gas price increases; they will do what is best towards their infested interest. If they increase gas to $30.00 a gallon I will get one gallon. If they drop it to where $30.00 can fill my tank again, so be it, but do not expect cheers and praises from me, that will not happen (either way, I am not telling anyone what to do).

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tribanon 1 month, 1 week ago

Our cruel Davis and Cooper led PLP administration is raking in windfall levels of gasoline tax revenues of the likes never seen before from high percentage tax levied on the dollar price of each gallon pumped at the gas station pumps.

Meanwhile too many Bahamians are suffering great financial hardship of the kind that literally destroys lives. But what do cruel Davis and Cooper care?!! They both have steadfastly refused to grant us a gasoline tax holiday for a least a year, in much the same way that he refuses to make all breadbasket food items VAT-free.

Just how cruel can this Davis and Cooper led PLP administration continue to be to the many less fortunate among our people?!!!!

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TigerB 1 month, 1 week ago

Ours here in Freeport is still at $6.05 as of this morning. I'm sure we will not be there long.

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Sickened 1 month, 1 week ago

Gov't is making twice as much as they used to in gas tax. Why can't they put a ceiling on their greed? Is it because they like money and have personal goals which are above and beyond the goals of the citizens? You just know that plenty of these guys have personal targets to make at least $1million a year while in power.

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tribanon 1 month, 1 week ago

The operative word is "steal" not "make".

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