Gas prices have soared to over $4 per imperial gallon in Grand Cayman.
Prices are ranging anywhere from $3.80 to $4.14 in a cross section of service stations around the island, as of Monday (yesterday).
Just over a month ago gasoline prices here averaged roughly between $3.65 and $3.82 a gallon, having gone up from between 15 to 30 cents a gallon in a month.
Diesel ranges from between $3.42 and $3.56 a gallon in places surveyed, while a month ago it ranged between $3.31 and $3.55 an imperial gallon.
Prices at Hell Esso in West Bay range between $4.11 to $4.14 for full service gasoline. Diesel is $3.56; at West Bay Road Esso prices go from $3.99 to $4.11 for gasoline while diesel is $3.54; at Red Bay Esso prices range from between $3.96 and $4.06 while diesel is $3.42; Island Esso’s gasoline prices go from $3.96 to $4.10 while diesel is $3.47.
At Eastern Avenue Texaco Starmart prices for gas go from $3.85 to $3.95, with diesel at $3.53; Savannah Texaco has prices from $3.80 to $3.90, with diesel at $3.36 per gallon; Seven Mile Beach Texaco has prices from $3.90 to $4; East End Texaco’s prices are $3.82 for gas and $3.46 for diesel.
Wholesale prices for both Esso Standard Oil Ltd. and Texaco Caribbean Inc. have been on the rise recently. However, at the time of going to press no one from these companies was available for comment on when the most recent wholesale price hikes took place or if they are directly related to shortages of gas caused by recent hurricanes in the Gulf Coast.
Gas prices in the Cayman Islands were likely to be affected by Hurricane Katrina’s effects on Gulf Coast supplies, District Retail Manager at Texaco Caribbean Inc. said recently – although he would not speculate to what magnitude.
Other factors that have seen the price of gas on the rise recently include problems in several US refineries, Saudi threats and the Iran-US confrontation, with gasoline demand in the US still high despite rising prices.
Fuel is delivered and sold at the service stations in imperial gallons. An imperial gallon is 1.2 times greater in volume than a US gallon. Prices at the pump in gas stations here are set by the individual service station operators.
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