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Commerce Ministry set to make crucial decision on fare increases
The Ministry of Tourism, Industry and Commerce is seeking every possible avenue to make the cost of gasoline affordable although the price has been escalating on the international market.
In this regard, an official at the ministry yesterday related to this newspaper that the ministry has engaged ventures, including collaborating with the Petrol Dealers Association and the minibus associations, to ensure that some level of control is maintained.
On Monday, Minister Manniram Prashad, for the first time, met with representatives of the three minibus associations simultaneously, with a view to assessing how the cost of the fuel could be absorbed by all stakeholders.
The meeting saw the attendance of the fuel bosses of Esso/Shell, Texaco and Guyoil who, according to the minister, are willing to do whatever is necessary to make the fuel price affordable.
According to Minister Prashad, the minibus associations and the ministry have an understanding as it relates to fuel prices in the form of an agreement, which states that fares should not be increased until the price of gasoline surpasses $1,000.
He disclosed, though, that while all of the other petrol stations have increased prices surpassing $1,000, the price at Guyoil currently stands at $930.
The minister revealed that he had held previous separate meetings with the petrol dealers and the minibus associations, but noted that it has become imperative that he meets with both sides together, a move which was realised through the joint close-door meeting on Monday.
During a brief chat with media operatives on Monday, the minister said that, because his ministry is responsible for community protection, a cordial relationship has been forged between the minibus associations and the ministry.
As such, the minister disclosed, the association is willing to operate in an environment sanctioned by the ministry, rather than one based on “bickering.”
Also, it was expected that, during the course of the meeting, the petrol dealers would examine their prices, the minister added. But, in order to truly derive a solution, the minister said, it would become compulsory that the acquisition cost of the operation of the transportation providers be determined.
At the end of the meeting it was decided that the representatives of the minibus associations obtain the prices of spare parts for the perusal of the ministry, at another meeting slated for next week Thursday.
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