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Local fuel prices nearing $6 per gallon as crude oil costs increase

(stock photo)

(stock photo)

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.”

Comments

joeblow 5 months, 3 weeks ago

... its really humorous when I consider that many Bahamians wanted Trump to lose the election. He did! US domestic production of oil fell, gas and transportation prices increased and now inflation is crushing people! Be careful what you wish for!

Its also interesting to consider those who believe they are 'saving the planet' by buying electric vehicles with batteries they will have to dispose of in a few years, into landfills that can't handle them. They simply haven't figured out yet that the energy they use to charge their cars is not coming from the sun or the hot air of politicians, but fossil fuels! Really funny!

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ScubaSteve 5 months, 3 weeks ago

I would still rather pay $6 for gas than have Trump in office. Hell, I'd be willing to pay $10 if that meant keeping him out of office. It's worth every penny!!

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