A new gas station, scheduled to open early next month, will be the first to source its own fuel for road vehicles from overseas, bypassing bulk suppliers Sol and Rubis.
Dow Travers has partnered with Cayman Islands businessman Adrien Briggs to open the new Refuel gas station opposite the airport post office in George Town.
Mr. Travers said sourcing fuel independently would allow the new facility to offer lower prices and bring in more environmentally friendly fuel.
Plans are already in place for a second gas station, with the same business model and branding. He said the company also wants to set up a mobile delivery service but was prevented from doing so by the new Dangerous Substance Law, which he said is anti-competitive.
After years of public concern over high prices at the pump and recent debate over potential government price control, Mr. Travers suggested the new gas station would offer a market solution.
“Government can increase regulation or increase competition, it can’t do both. Competition is the solution to high fuel prices,” he said.
The concept is to cut out the middle man and rely on frequent shipments to keep a steady supply of fuel.
Mr. Travers said, “We will be the first road vehicle gas station to source our own fuel, but what we are most proud of is that we are the first gas station on island to have five grades of fuel, the first station to offer a more renewable diesel option of B20 biodiesel, and the first station to have extensive automated fleet management and loyalty programs to help combat high fuel prices.”
He said his principal motivation is to bring more environmentally friendly fuel to the Cayman Islands. The business slogan is “Fuel doesn’t have to cost the Earth.”
He added, “Due to the infrastructure limitations of the big two importers, Cayman’s fuel market has been left behind compared to most of the developed world, which now has modern emissions-reduced fuels. By sourcing our own fuels, we can bring fuels with the same renewable content and emission-reducing benefits as the fuels in the USA.”
Refuel will market three grades of E10, an ethanol fuel mix commonly used in the U.S., and B5 and B20 biodiesel. He said the business would also use modern software to offer savings through loyalty programs and fleet management programs.
“Refuel will have the most modern, extensive and automated fleet, loyalty and technology systems on island. A significant amount of time has gone into obtaining the relevant software licenses and infrastructure,” he said.