In his timely article under the caption ‘Gas price controls coming,’ Brent Fuller has brought to our attention that for the first time the government is considering implementing controls to regulate the process by which gasoline distributors may increase local fuel prices.
I am glad that the Leader of Government Business, Mr. Kurt Tibbetts is aware that something must be done to address the ever increasing costs that Caymanians are paying at the pump for both gasoline and diesel fuel. It is also noted that once these controls are implemented, Chief Petroleum Inspector Gary McTaggart will be invested with the necessary legal authority to examine the distributors’ criteria for any price increase to ascertain its justification before it is implemented.
The $10,000 fine should be a reasonable deterrent for oil distributors not to comply with the conditions set forth by the chief petroleum inspector’s office
There is no real competition with only two oil distributors on the Island.
It should be interesting to see reaction (if any) by officials from Esso and Texaco.