September 18, 2024
The petroleum dealers need relief but at the expense of the government, not the
Bahamian people. Instead, the Davis administration has, once again, chosen the path of
least resistance, prioritizing their own interests over the financial well-being of the
Bahamian people by leaving their own revenue streams untouched. The recent decision
to grant petroleum retailers a margin increase, while ignoring the heavy tax burden that
significantly inflates the price of fuel, is a clear demonstration of this administration’s lack
of concern for ordinary citizens.
While the government claims this increase is “manageable,” they conveniently overlook
the fact that a significant portion of the cost of gasoline and diesel can be attributed to
government taxes and fees. On each gallon of fuel landed in this country, the government
pockets almost twice the amount of add-ons as the retailer and wholesaler combined. At
a time when Bahamian families are already stretched to their limits, struggling with the
rising cost of living, it is unfathomable that the government would choose to add more
weight to the backs of our people rather than reduce taxes on fuel to ease this burden.
The Prime Minister’s assertion that gas prices have declined over the past year is both
misleading and irrelevant. According to The Bahamas National Statistical Institute’s May
2024 Consumer Price Index, gasoline prices actually increased by 1.9% compared to the
same period last year so the numbers do not substantiate the Prime Minister’s claim.
The government must immediately reconsider this decision and take steps to reduce the
excessive taxes that contribute to the price of fuel. The Prime Minister must make the
Bahamian people his priority, and make the necessary sacrifices rather than expecting
citizens to do so.
The Bahamian people deserve better. As an Opposition, we will continue to stand with
them and advocate for policies that prioritize their well-being over government revenue
and special interests.
Sen. Hon. Maxine Seymour
Free National Movement.