Bahamas petroleum retailers plan protest over profit margin

The Bahamas Petroleum Retailers Association are planning to host a protest next Wednesday as their frustration is building over the fact that the government is refusing to increase their profit margin.

During the weekly press briefing at the office of the Prime Minister on Thursday, Press Secretary Keishla Adderley informed the media that the government is concerned about the situation.

She outlined that the Ministry of Finance is trying to come up with a formula and added, “Obviously the government is concerned about the health of those businesses, but it's equally concerned about placing any undue burden on consumers.”

Meanwhile, Bernard Dorsett, owner of Porky's Service Centre said that the retailers are ready to fight for what they say is long overdue. Dorsett confirmed that when Parliament resumes, they will be holding a demonstration.

He said, “23% as the price control, as all the other regulations put us at a percentage of our cost from now, as the fuel goes up, it will move as a percentage. If it falls, it will fall as a percentage.”

Meanwhile, the retailers and government have been at odds over the increase, the industry's $0.54 and $0.34 gasoline and diesel margins respectively. 

Meanwhile, the owner of the new Roca gas station, Peter Roca, expressed concern as providers of a basic amenity gas station should not have to struggle to keep their doors open.

“You know, for us to have to go out on Bay Street and display our displeasure and how we are being treated as small Bahamian businesses is really something that shouldn't be happening,” he noted. 

He further emphasised that the truth of the matter is that the gas station business is an essential business for the public and for the country. He continued to say that, “And if you take the opportunity to get rid of us, you're going to find yourself saddled and in bed with people will be a nightmare.”

Retails also say that this is a sad position in which the government is placing them in, because the cost of business is extremely high, and at the end of the day, they're going to have to make some tough decisions.