OPPOSITION LEADER MEETS WITH BAHAMAS PETROLEUM RETAILERS ASSOCIATION

Mar 13, 2024

March 5, 2024

Today, Tuesday, 5th March 2024.  Opposition Leader Michael Pintard, Deputy Leader Shanendon Cartwright, Senator Michela Barnett-Ellis and technical staff met with Representatives of the Bahamas Petroleum Retailer Association (“BPRA”) including President Raymond Jones, Vice President Vasco Bastian, Oswald Moore, George Cartwright and Eulease Johnson discuss their concerns and desire to have government provide a margin adjustment without disadvantaging the motoring public.

A wide range of concerns were raised and discussed. The BPRA fiercely underscored the increased burdens being experienced by the business community and how the increased burdens have cut into their fixed profit margin. The BPRA laid out the history of their discussions with the government and painstakingly shared details about their costs and revenues and the impact this situation is having on the business. They would like their fixed profit margin to be a fixed percentage of the cost of fuel instead of the  fixed price of $0.54

Among the pressing concerns noted by dealers is the difficulties renewing their business licenses.

The Opposition shares the concerns of the retailers as it relates to the historically high rental and franchise costs paid by retailers to wholesalers. All sides expressed concerns about the unfear advantage caused when some wholesalers entered the retail petroleum business as they do not have the added costs of rent and franchise fees.

Mr. Pintard confirmed his Party’s commitment to addressing these issues and gave his views on the way forward.

Mr. Pintard also made clear his intention to continue to consult and collaborate with the Association while addressing the cost of gasoline.

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