NASSAU, BAHAMAS — Bahamas Petroleum Retailers Association vice-president Vasco Bastian described yesterday’s meeting between gas station operators and Prime Minister Philip Davis as “very productive”, suggesting that motorists won’t have to worry about stations closing anytime soon.
Bastian said: “I don’t want to get into too much details and preempt anything but I can tell you that this government and this Prime Minister is very accommodating in comparison to the previous administration who never even had an audience with us. If this is how this current government will deal with young business owners in this country, I must say that it can only be a positive direction. This administration was very accommodating.”
He continued: “We’re still talking but the fact that the meeting was held so soon speaks to the seriousness of the issue and the willingness of the Prime Minister to meet with young Bahamians. People don’t have to worry about gas stations closing and you can drive as much as you want.”
Retailers had previously suggested that a lockout could come this Easter weekend if their concerns are not addressed. Petroleum retailers make $0.54 cents on each gallon of gas sold but operators have stressed that margin is too low for them to remain viable.
As the war between Russia and Ukraine wages on, the cost of fuel at the pumps has surpassed $6, with fears it will rise even higher in the coming months. A recently released Inter-American Development bank (IDB) study noted that The Bahamas – based on 2019 figures – is the largest importer in the Latin American and Caribbean region of Russian gas and oil.
