Consultant to take look at petrol sector, says ministry
The Development Ministry will hire a consultant to examine the country’s petrol industry after repeated claims of profiteering in the sector. The ministry will launch an international tender to appoint the study that will conduct a «cost investigation into the petroleum products market.» «The study will make a general overview of the sector,» said a ministry source. No time frame for the study was given. Gasoline stations have been accused of delaying passing on lower prices to drivers despite the cost of crude oil dropping on global markets. US crude fell yesterday by $7 to $94.18 a barrel, its lowest level in seven months. In August, the ministry imposed a ceiling on the price of fuel on several of the country’s islands in a bid to force price reductions. Petrol station owners had described the move as being «unfair,» arguing that such moves should be imposed on the whole supply chain, including oil refineries.
