March 3, 2022
THE price of gasoline at $5.52 at the pump yesterday.
Photo: Donavan McIntosh/Tribune staff
Stories this photo appears in:
HERE WE GO - GAS PRICE ROCKETS IN JUST WEEKS: Sears concedes Govt is concerned and special measures will be needed
PUBLIC Works Minister Alfred Sears said the government is concerned about the rise in gasoline prices at the pumps, adding some “extraordinary” measures will have to be considered and taken in response to an expected continued increase in fuel costs.
Comments
John 2 years, 1 month ago
Whilst the US may have enough oil to flood the market, it is not as simple as doing just that. The gulf states have tried to remain neutral in the Russian conflict. Many like the UAE are tradin partners with both Russia and tge Ukraine. And if it was to appear that the US was gaining an unfair advantage from the Russian conflict, they may be forced to respond. And if they increase production of oil and flood the market, oil prices can sink below $30 per barrel almost overnight. The Arabs have nothing to lose with low oil prices but it will definitely make the sanctions against Russia less effective.
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