Topic: fuel prices
Fuel duty cuts may take time to flow to pumps
Consumers will not see the benefits of the fuel duty waiver that came into effect on 1 June until gas stations use up their stocks of fuel on which tax has already been paid.
Local inflation projected to rise to 5.3% this year
Projections by the Economics and Statistics Office indicate that inflation in 2026 is expected to rise to 5.3%, more than four times higher than last year.
‘Upward pressure’ on local fuel prices expected to continue until Middle East conflict resolved
Fuel prices may not have peaked yet amid warfare in the Middle East – but a Cayman gas station chief warned that the possibility of shortages if conflict dragged on was a bigger fear
Rising fuel costs already impacting some Cayman airfares
Rising fuel prices are increasing airline operating costs and are already beginning to push up airfares to and from Cayman, with further increases possible if prices remain elevated.
Lawmakers to investigate erratic fuel prices
A new bi-partisan committee of lawmakers has been tasked with getting to root of why local fuel prices have been fluctuating the way that they have been compounding the strain on the Cayman Islands community.
McTaggart calls for suspension of fuel import duty
Opposition Leader Roy McTaggart has called for a complete suspension of the import duty on fuel, at least until the end of the year, to help drive consumer costs down at the pump.
OfReg: Cayman fuel prices similar or lower than elsewhere in region
Utility regulator OfReg has a released the results of a regional price comparison survey that show fuel prices in Cayman are comparable to countries of similar size and much lower in some cases.
Premier: Fuel prices expected to go higher
As fuel prices at the pump in Cayman start to exceed CI$7 per gallon, Premier Wayne Panton has warned that prices will rise further and noticeably impact the financial situation of residents.
OfReg says local operators will not be able to shift fuel prices based on...
The Utility Regulation and Competition Office (OfReg) has warned that recent global events may have an economic impact on fuel prices in the Cayman Islands.
OfReg consults stakeholders on its fuels market assessment
The study found that the fuel sector is “generally highly concentrated” and “not highly competitive”.
Regulator: Scrutiny has helped bring down fuel prices
Regulators believe they are making progress in bringing down consumer costs for fuel, water and electricity.
OfReg executives grilled on fuel prices, broadband quality
OfReg’s ICT executive Alee Fa’amoe has said, based the regulator's current operational trajectory, it will be not be able to meet its mandate of getting better prices at the gas pump nor fasater internet speeds and prices within the next year or two.
OfReg continues investigation of fuel prices
After the rapid decline of oil and fuel prices globally since the beginning of the COVID-19 pandemic in mid-March, retail gas prices have dropped by 58 cents per gallon on average. However, the regulator was not satisfied with the reduction of prices at the pumps.
Rising gas cost
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