Gas prices investigated

The matter of fuel prices is being worked on and there would soon be specific announcements, said Deputy Chief Secretary Donovan Ebanks.

Pricing levels were of serious concern to people, as were issues such as the responsiveness to price changes in the world and regional price levels, he told the Cabinet Press Briefing on Friday.

People were frustrated at seeing prices changing elsewhere while seeing very little happening here, he said

Over the last few weeks prices had dropped in the US but the level of reduction here did not coincide with other places, said Mr. Ebanks.

Changes in the sector would have to be made and the government was considering implementing some from its side, he told the briefing.

Things would be happening in the next couple of weeks and some announcement would be made soon, he said.

Leader of Government Business Kurt Tibbetts said they were getting a clear understanding of what obtained with the licences and the circumstances under which the oil companies operate.

No one expected a company to not be allowed to make a fair return for its investment, he said.

But what happened with the licences presently would have to be looked at to try and determine what was fair. There could then be discussions with the oil companies, he said.

There was a huge question with regard to their existing licences between wholesale and retail, Mr. Tibbetts told the briefing.

The information was being put together so that proper assessments could be made, discussions held and better prices obtained for customers, he said.

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