Sunday, April 16, 2006
The Bahamas expects a dramatic rise in fuel prices soon after the Easter holidays.
The increase is due to a continuing rise in global oil prices, now nudging around 70 dolars per barrel, the highest it has ever been. The International Monetary Fund also warned the continuing rise in oil prices was distorting world trade.
Sidney McKenzie, Chief Price Inspector at the Ministry of Consumer Affairs, said drivers should expect the increase when the next shipment of fuel arrives in The Bahamas from Venezuela.
Currently a gallon of unleaded gasoline costs an average 4 dollars. The expected price rise will be at least 25-cents.
The Bahamas expects a dramatic rise in fuel prices soon after the Easter holidays.
The increase is due to a continuing rise in global oil prices, now nudging around 70 dolars per barrel, the highest it has ever been. The International Monetary Fund also warned the continuing rise in oil prices was distorting world trade.
Sidney McKenzie, Chief Price Inspector at the Ministry of Consumer Affairs, said drivers should expect the increase when the next shipment of fuel arrives in The Bahamas from Venezuela.
Currently a gallon of unleaded gasoline costs an average 4 dollars. The expected price rise will be at least 25-cents.
|