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NDM questions slow reduction in fuel prices

Published:Sunday | December 7, 2014 | 12:27 PM

The National Democratic Movement (NDM) says it is concerned about the marginal decline in local gas prices, claiming that it does not correspond with the dramatic decrease in world oil prices.

In a statement to the press, the NDM said Petrojam has been "tardy" in passing on the reduced prices to consumers, although global oil prices have been falling over the past three months. It said Petrojam's slow reaction was contrary to its haste to pass on increases when global oil prices went up.

The NDM has called for the Government to intervene in the matter, noting that a fall in prices could trigger a stimulus for the economy, and in turn, increase consumption and revenue by taxes.


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