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Motorists React To Gas Margin Increase

NASSAU, BAHAMAS – While petroleum retailers are breathing a sigh of relief, residents are peeved over that margin increase that recently got government approval.

Published

2 months ago

September 17, 2024

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NASSAU, BAHAMAS – While petroleum retailers are breathing a sigh of relief, residents are peeved over that margin increase that recently got government approval.

Sidney Sands was among other Bahamians we spoke to today not happy about the news that gas retailers will get a 25-cent margin increase.

Retailers predict this could mean up to an additional $2.25 per week for motorists.

But those here in New Providence aren’t the only ones who will feel this pinch.

This Exuma fisherman and Grand Bahama resident says an increase will be too much on the backs of Bahamians.

Prime Minister Philip Davis made the announcement Monday night, but failed to say when the increase will take effect.

Association President Raymond Jones says consumers can expect to spend up to an additional $2.25 per week.

But according to Jones, their data shows the price of fuel will continue to decline. As a result, he says consumers may only see on average about a 60 cents increase.

Petroleum retailers last saw an increase back in 2011 under the Ingraham administration.

But not everyone was against the increase.