NASSAU, BAHAMAS — Ground transportation operators said yesterday they were watching with “great concern” as gas prices have now risen over $6 a gallon on New Providence, noting that they would have to “wait and see” where prices peak before pressing for a rate hike.
Bahamas Taxicab Union president Wesley Ferguson said: “It’s a serious concern for us. We are regulated by the government. We don’t have the luxury of simply raising our fares when fuel prices go up and fuel is the biggest cost to our operation. We don’t want to jump the gun and ask for a 20-25 percent hike and by the time summer rolls around, God forbid, gas is $10 a gallon. We need to be in step with what would be the maximum cost because we could run the risk of costing ourselves even more money if we go too low.”
Minister of Transport JoBeth Coleby-Davis said last month that the government is considering increasing bus and taxi fares as inflation continues to worsen. Bus fares are $1.25 while taxi fares differ depending on the size of the party and the location.
Harrison Moxey, head of the United Public Transportation Company’s (UPTC) said: “We are just monitoring the situation right now. This is a serious concern. We haven’t made any decision on what we are going to do. We haven’t had an audience with the minister yet. We are incurring some extra costs now so we are watching the situation and see just how high prices go.”
