Thu | Nov 23, 2017

Finance Minister still not happy with high fuel prices

Published:Friday | November 10, 2017 | 6:15 PMJodi Gilpin
Shaw... rejected claims that taxes imposed on gasoline by the government are the cause of the high prices.

Finance Minister Audley Shaw has reiterated his dissatisfaction with the high fuel prices at gas stations across the country.

Shaw has also rejected claims that taxes imposed on gasoline by the government are the cause of the high prices.

He argues that the main problem is the high profit margins set by petroleum marketing companies.

 

Finance Minister Audley Shaw

According to the finance minister, high fuel prices impact the economy and the country’s competitiveness.

He says the government has to step in to bring stability to the market and so he along with his colleagues in the ministries of energy and industry will be investigating the issue to find possible solutions.

Shaw was speaking with The Gleaner following a signing ceremony for the loan contract for Energy and Efficiency Programme between the Government and the Inter-American Development Bank.

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