Economic Affairs Minister: I Wouldn’t Say It’s The Perfect Time

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NASSAU, BAHAMAS – The Petroleum Retailers Association believes the decline in gas prices makes the perfect environment for the government to grant a margin increase, however, the government doesn’t think so.

We put the question to Economic Affairs Minister Michael Halkitis who says the government’s position on the matter remains the same.

Association President Raymond Jones told the Tribune newspaper that implementing 25 cents margin increase per gallon now would still result in a net reduction in gasoline prices for consumers and fulfill the government’s objective of not imposing further cost hikes on Bahamians.

The increase if implemented would be the first in twelve years…  

Earlier this year, retailers temporarily stopped serving diesel but is the Davis administration concerned about another action?

He says all signs indicate a further relaxation in oil prices.

The economic affairs minister says he’s hopeful an arraignment will be met soon that will be mutually beneficial.