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Financial Secretary comments on the High Cost of Fuel

The price of Premium Gasoline has yet to decrease as promised by Prime Minister a few weeks ago. This morning the media caught up with the Financial Secretary, Joseph Waight, who explained why.

Joseph Waight – Financial Secretary

“The fuel prices are a composite of many things, a lot of it has to do with the transportation costs that when we buy fuel from different sources we have to pay different transportation costs. In other words, if we are buying all our fuel from Venezuela there would be on transportation cost but we have to buy some from Texas and some from Guatemala at times and all of that contribute to the high cost. It’s a transportation issue. Venezuela has resumed, in fact, they never stopped but remember we don’t get all our fuel, never did, from Venezuela so we still had to buy from other sources and that transportation costs contributed to the high cost. What I’m saying is that transportation cost when you buy from different areas and you have to buy from a tanker whether it’s full or not that contributes to the cost.”

The current cost of premium gasoline is eleven dollars and ninety-two cents per gallon.