Taxi and bus drivers say they have much to lose when it comes to escalating fuel costs
NASSAU, BAHAMAS — Ground transportation operators said yesterday they are “very concerned” their operations will suffer a tremendous financial blow due to rising fuel prices, suggesting they may have to approach the government about a rate increase.
Wesley Ferguson, the Bahamas Taxicab Union president, told Eyewitness News that with fuel being their single largest operational cost, the taxicab industry is very concerned about escalating gas prices.
We stand to lose a tremendous amount of money if gas prices continue to rise.
– Wesley Ferguson
Gas prices on New Providence are currently well over $5 a gallon, with growing speculation prices could reach $6 and perhaps climb as high as $8.
Ferguson told Eyewitness News: “We’re monitoring the situation and we are very concerned.
“The taxi industry, along with the jitneys, consume the lion’s share of fuel. We are costly on the road and can’t operate without fuel. It’s of great concern to us.
“When others can go up on the price of their services at will, the taxi industry’s prices are set and regulated by the government.
“The last time we had an increase was in 2017. Gas prices have escalated since then.
“This is of great concern for the industry because the higher prices directly affect the finances of the drivers. They don’t have the luxury of operating without gas.
“We stand to lose a tremendous amount of money if gas prices continue to rise.”
Ferguson said while there may be complaints regarding taxi fares, consideration must be given to the additional expenses that drivers incur.
“People often complain about taxi fares but they do not consider the cost of operating a cab,” said Ferguson.
“The fares are really a far cry from what fares ought to be when inflation is considered.
“Putting $5 worth of gas and going for the day, those days are long gone.”
Putting $5 worth of gas and going for the day, those days are long gone.
– Wesley Ferguson
Harrison Moxey, the United Public Transportation Company’s (UPTC) president, told Eyewitness News: “There are a lot of concerns for us. For two years now, our businesses have been heavily impacted.
“We’re still operating at 50 percent and we’re not getting any relief. Higher fuel prices only exacerbates the situation.
“We’re calling on the government to take another look at our industry. For seven months, we were out of business in 2020. We feel disrespected by the way our industry is being looked at.
“We are demanding that the government take a look at our industry and [relieve] us. Some people have already gone out of business.
“We are tired of being disregarded. Government must do something quickly.”
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.
Gas prices are rising higher across the globe, with the pandemic, the Russia-Ukraine conflict and increased demand all cited as contributing factors to the increase.
The price of crude oil has reached over $110 per barrel.
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