Gas prices pass $6 as Gough takes over OfReg
(CNS): Several gas stations across Cayman are now charging well over CI$6 per gallon as prices at the pump begin to reflect the jump in prices paid by local wholesalers after global oil prices sky-rocketed. While everyone knew it was coming, the increase to $6:53 for premium per imperial gallon and CI$6:38 for regular was still painful. Meanwhile, OfReg has confirmed that veteran civil servant Peter Gough has taken over the regulator until a new general manager can be recruited.
OfReg has not yet updated the islandwide price guide on its website to reflect the hike, which started at the Shedden Road Esso gas station on Thursday, followed by other George Town stations on Friday.
However, there are indications that the prices could go even higher, with fears that a gallon will exceed $7 in the coming weeks. This will have a direct impact at the pump and on CUC bills and will exacerbate the already rising inflation, which is hitting consumers on everything they buy.
The subject was the hottest thing on social media and chat groups over the weekend, as people pointed out that one gallon for gas in Cayman now far exceeds the minimum wage.
Two weeks ago Chief Fuel Inspector Duke Munroe pointed out that the Cayman Islands has no influence over prices on the global market and the country should brace itself for a significant increase in gas prices. However, he also said that retailers cannot increase the pump price as a result of speculation.
Interim CEO at OfReg, Peter Gough, who is now officially on secondment from the Portfolio of Civil Service, has said it is imperative that consumers prepare themselves for the prospect that fuel prices might increase.
“The US is initiating moves to open up reserves to try and balance any shortfall in supply, which should alleviate some pressure in demand globally. We will continue to keep an eye on their movements,” he added.
While Gough is no fuel expert, Board Chairman Rudy Ebanks said he hoped that his “vast experience” in the development of legislation, policy development, management, HR, finance and governance would prove invaluable to OfReg while the board undertakes the recruitment process for a permanent CEO.
“Mr Gough has had a long and distinguished career in the Cayman Islands Civil Service. His tenure has been varied, allowing him to gain knowledge and proficiency in several key areas that will directly benefit OfReg,” he said.
“Mr Gough is well placed to assist OfReg in advancing its mandate to protect our critical national infrastructure and ensure a fair marketplace in a manner that focuses on building consumer satisfaction, while balancing the needs of stakeholders, including licensees, and Cabinet.”
More than five years after it was created with the issue of the price of gas as a priority, the regulator has still not found a way to tackle continuing public concerns over how the price people pay at the pump for gas is calculated.
Speaking on Radio Cayman recently, Munroe admitted that OfReg has still not determined the best way to regulate local gas prices.
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Business staffing plans mandated with certain work permit application, should be made to include what numbers of staff are encouraged to work from home and how they plan to increase that number. A good amount of the traffic bottleneck would dissipate if there were meaningful measures taken to encourage employees to work from home whenever possible. It would result in less money spent on gas and having fewer vehicles on the road. The Cayman Islands government can and should take the lead in this.
What is Gough’s claim to fame so that he is continually recycled from agency to agency?
Is he not well past retirement age even in the UK, yet Caymanians are pushed out the door even when they are willing and able to work.
He’s nearer 80 than 65, that’s for sure. Maybe the problem is that while our Caymanian senior civil servants talk a lot about their abilities but don’t actually seem to deliver anything other than words and “strategies” and “focus groups” and have to be placed in non positions made up for them, he actually gets things done and his civil servant and political bosses realize that.
31 @ 11:17 am – Fair enough, that’s your opinion of Peter Gough; other opinions posted are also noted.
But, if he’s been so efficient and effective all these years, why hasn’t he properly trained Franz, Gloria, Stran and most other COs, plus most HoDs to function in the same manner??
Did he try with them and give up?? I could see that.
CUC is cutting corners on voltage delivery too, delivering brown-out level power to consumers. We’re paying full price for 90% of the power. That means diminished appliance performance, droning ceiling fans, and dim lighting.
Is that true? The inverter on my solar logs grid voltage and frequency and I don’t see anything to support that. If anything voltage constantly runs a little high 215 vs 208 (3P). Where are you getting your data?
Voltage is usually high, like most utilities around the world, if anything it would be the frequency that dips. Are you sure you’re not running 240V appliances on a 208V feed?
Less than $30 of CUC’S finest electricity to fill up my car
This is hilarious! Prices are gouged as Gough takes over. Money speaks, the people are happy, prices go higher!
Gouging by the fuel companies. . . straight and simple.
It is now referred to as Goughing*
CIG SAGC pretends to regulate telecoms, fuel distribution, other energy and water, but can’t even pretend to regulate food or other consumer staples.
Maybe it’s time that Government encourages another couple of competitors into the market.
As much as this could backfire on us like the collusion amongst the banks it did work to some degree with telecommunications. I remember paying CI$1.30 per minute to call Florida back in the day.
CUC is another one that is choking us to death. Let’s try out best to negotiate our way out of that stupid PPM agreement and get some competition in.Nothing is going to change until we do. No company in the world, besides CUC is guaranteed a profit by any Government. They have a sweet deal and they know and they will keep ripping us off.
We should not be afraid to put these companies on notice that we are encouraging new competition and they better start doing better.
People here, local or foreign, seem to despise truth in any form.
Maybe we should put our efforts into encouraging competition rather than into regulation. Spend the OffReg budget on that aspect and you will see a noticeable change.
Worked for telecoms? No it didn’t! We’re all now paying for 3 lots of infrastructure. Somewhere this small CIG should own all the infrastructure and lease it to phone/internet/tv companies.
Many companies could allow their worker’s to work remotely for a portion of the week of to stagger work hours so that fuel is not spent sitting in traffic for 2+ hours. The truth of the matter is that most companies don’t actually care and once the executives are being adequately compensated nothing will change.
Food and fuel reaching record highs, hurting consumers and leadership across the island in denial of this reality that more remote work is a solid plan to save people and businesses money and reduce traffic issues.
Insane.
In June 2020, the Auditor General did a report on the Efficiency and Effectiveness of OfReg Performance-Audit-Reports-OfReg-Final-report.pdf (auditorgeneral.gov.ky).
In July 2020, the Public Accounts Committee (PAC) held hearings on the report, bringing in representatives of all utilities and all fuel suppliers. The PAC was told by the then- Deputy Chair of OfReg that fuel prices at the pumps were not what they should be Pump price ‘not fair’ says OfReg deputy chair.
MLA Chris Saunders was a member and active participant in the PAC in July 2020. He was subsequently given responsibility for OfReg following the elections almost a year ago. The public had reason to be optimistic that having obtained such a thorough and current understanding of the issues related to OfReg and the sectors for which it is responsible, the Hon. Chis Saunders, Dep. Premier, would have been poised to take timely and effective actions to provide the policy directives that seem to be sadly lacking.
Instead, all we have seen is that the former OfReg Chair was allowed to slip out of the back door after his embarrassing performance at the PAC hearings. We have not heard one word from Minister Saunders as to whether and how his government proposes to address this situation. Can we please hear something from you Minister Saunders?
AG’s report: https://www.auditorgeneral.gov.ky/powerpanel/modules/reports/html/uploads/pdfs/Performance-Audit-Reports-OfReg-Final-report.pdf
Dep Chair’s testimony: https://caymannewsservice.com/2020/07/pump-price-not-fair-ofreg-deputy/
11:46am. Are you really expecting Saunders to deal with the fuel situation? Hot air is cheap and whining cost less.
This cycle can’t continue. Our way of living will quickly deteriorate with all of the increases that will fall out of those insane fuel costs.
A small way to help in the short term is to (obviously) drive less. But, I would call upon our business leaders — looking at you BUtterfield, Maples — to strongly encourage your staff to work from home more often than current. If three days, ask them to move to four days from home (or five). This will reduce a little cost to employees, but also reduce the regional consumption a bit as well.
I’m not advocating a permanent change to submit, as those prices are unsustainable. Rather, for a bit of immediate help, asking the larger businesses to support the community by reducing a little consumption.
Except relative to prices globally our fuel price is not just far from insane but actually quite cheap. What is unsustainable is everyone driving 5 miles in full size pickups and SUV’s.
The government should lead by example and implement this now.
Whatever became of the consultants on fuel prices from Hong Kong??????
Get an ebike, choose a salad. Because convenience-based humans are addicted to refined gasoline and diesel, while refusing to consider responsible and healthier energy and food choices, many of our homes are forecast to be submerged at high tide by 2030, and Grand Cayman mostly uninhabitable by 2050-70.
https://coastal.climatecentral.org/map/12/-81.2924/19.3205/?theme=sea_level_rise&map_type=year&basemap=simple&contiguous=true&elevation_model=best_available&forecast_year=2030&pathway=ssp5rcp85&percentile=p95&refresh=true&return_level=return_level_0&rl_model=gtsr&slr_model=ipcc_2021_med
“Mr Gough is well placed to assist OfReg in advancing its mandate to protect our critical national infrastructure and ensure a fair marketplace in a manner that focuses on building consumer satisfaction, while balancing the needs of stakeholders, including licensees, and Cabinet.”
My question is why? What makes him so accomplished when he is admittedly “no fuel expert”, as well as no IT expert and no electrical engineering expert?
It is possible though that you might be able to say he will do no harm—by staying out of the way of the experts that OfReg does have on the job. That we can only hope for—indeed by this he may have perfected that skill.
We should ask ourselves how bad prices will need to get before a Cayman government will actually build the bike/ebike lane route infrastructure promised and paid for back in 2015, per the NRA Plan? It’s a real head scratcher.
The matter of gas prices is largely beyond our control. However the TCI Government realizing the hardship it is causing to its population, recently reduced the import duty thus making the cost of fuel for motor vehicles and the cost of electricity.
It behooves our government to follow their lead.
Great Chris, but the wasteful and out of control civil service have already spent all the money so there is now no room for reductions in revenue streams.
Populist nonsense. What services are you going to cut or other taxes raise, to pay for that give away?
Feb 23, 2020$49.67.
Nov 22, 2020 $48.25
Between the above period, The closing price on this commodity (BCO) never went above, but fluctuated between the prices stated.
Nine months, and not one drop of the fuel made it to Cayman within that period??? I have to assume that because the prices at the pump NEVER reflected the plummet in fuel prices.
We are being ripped off. Regardless who it put in these high paid positions, the consumers in Cayman will continue to be taken to the cleaners.
OfReg is just as useful as those who created it.
Anonymous 28 @ 2:55pm – On the US Gulf Coast sure, gas would be cheaper wouldn’t it? Considering all the oil rigs in the Gulf and all the refineries in Texas, Louisiana, Alabama…
I wish I owned a fuel terminal here too…better yet, a rig and refinery!!
FFS why is this Gough guy still around ? Nothing he has ever done worked – honestly Rudy, do better than this !
Peter Gough, the aging Civil Servant who is not required to retire. But is “seconded” on every whim and fancy to be DGs lackey boy.
Wonder if OfReg ever pad any attention to the calibration of pumps? Mr. Munroe himself was informed about some pumps calibrated in US gallons.
Yes at the marinas they dispense in US gallons and the price reflex the US cost.
As for the rest of the stations they are calibrated with a certified seraphin.
Yes we are getting ripped off her on fuel prices.
How about the pump fraud of premium 8000 testing-out as exactly the same liquid as regular 5000?
CNS’ headline almost did it again! Touche!
The bright side is it will help reduce traffic, and encourage use of public transport.
The public transport system is at best, third world. It’s total rubbish.
What public transport? you mean the Juta busses that aren’t on time or have a fixed route or schedule that can be relied upon? Those you mean? the ones with 15 seats?
As interest rates, inflation and cost of living increase, opportunities to imporove your saving now that the stimulas programs are fading.
Life as we knew it will return to normal with robbing peter to pay paul.
People will soon begin to feel the pinch again of cutting back on grocery shopping, falling behind on mortgages and consumer loans and finding it more difficult to pay utility bills………………….
https://www.cnn.com/2022/03/26/economy/recession-underwear-alan-greenspan/index.html
The populace need to understand it’s not just petrol and electricity going to take a hike.
Water is desalinated stored and pumped by electricity.
ALL cargo, food, consumables is shipped here by using fuel.
Cayman Airways refuels here , but could cut costs refueling in Miami, NY, Tampa.
ALL building materials at ALT and Cox will take a major price hike to cover fuel.
Concrete manufacturing and shipping costs, see above for ‘Cargo’.
( disclaimer: won’t affect Ken unless his losses in Russia bite…hard) .
Propane gas is a by product of refining fuels.
Due to every microbe Cayman needs here to be shipped, manufactured or fueled, we could be seeing an inflation rate that will potentially be one never experienced in Cayman
In historical time. It WILL have far reaching consequences.
The $64,000.00 question is are PACT anticipating this?
( Bonus: Damn good thing the Port expAn$ion under Alden got killed off ).
Excellent points.
What Government needs to consider immediately is suspending import duty on Shipping costs, Fuel, Fruits and Vegetables.
If they do not take these important temporary measures, the Cayman Middle Class will be destroyed forever.
This is a time to act, due to pandemic, war and supply chain issues they must save us from the high costs of inflation by eliminating the Import Duties on the items that we all need to survive.
There will still be plenty of government revenue to cover their ongoing expenses and this way we all survive.
This is what good governance should be.
Let us hope this soon come.
2:15 PM, if it’s not excessive mark up ,why dont they make public how much they pay for the fuel and how much they sell it fir. I understand in U S A its like 20 cents mark up and here it’s over a dollar.
REFUEL by Airport has fuel $4.99 self serve and $5.09 Full serve and has been the same price from March 5th up till March 25th. Go there for your fuel. Everybody else is wicked with the markup and its same gasoline and diesel they selling
Respect for the info. Hopefully it doesn’t change in the next few days.
It most certainly is NOT the same gasoline. 10% Ethanol…
That’s because it’s cheap gas from Venezuela that contains higher levels of ethanol. It’s cheaper sure, but your gas tank runs out faster. Don’t believe me? Try filling up a refuel and reset odometer, then fill up at Esso/Rubis and reset odometer. You’ll see that you’ll get less miles from Refuel gas.
It is not from Venezuela, it’s from Florida. It’s the exact same fuel used in all US Stations and meets the exact same standards. Poor refuels for years everyone complains about prices they come along and lower prices and everyone finds an excuse to keep using everyone else
All wrong. Which station do you own?
Seems unlikely you would notice. AIUI Refuel is E10 which is 10% ethanol. Ethanol stores 30% less energy than gasoline so a gallon of E10 contains 3% less energy than a gallon of regular gas, in other words you need approx 3% more to do the same amount of work; so whilst it’s true that your car will be down on power and not go as far per gallon the effect is negligible.
Given both Major suppliers on island are part of a buy and supply cycle that’s 4-6 months in advance, it’s criminal to think that they and their distributors (petrol stations) on island are charging exorbitant pricing based on a war that started 4 weeks ago.
Lies a plenty and with no real regulatory will-power, we the consumers are forced to swallow the bitter (costly) pill … Next up ofcourse will be the giant increase in energy prices as CUC passes the buck. Remember GOV gets their sweet share of each gallon so it’s a right left hook, right hook punch and we the co sore loose on every blow. Thx for nothing and keep your pretense of leadership change will bro g change … I see your nonsense and raise you, the truth.
Correction. Govt duty on fuel is a per gallon tax and does not vary with prices.
5:49: we have here a guy who has never rocked the boat, which explains his survivability, thst and his morning devotionals with George.
I doubt he is going to be troubled by the trivial point about the buy and supply cycle.
Then Board Chair Rudy Ebanks has a nerve to say “he is no fuel expert.” Ya think? We never fail to fall over ourselves with the excuses for those from on high.
We have a long way to go.
Oh my Gough, here comes Peter again.
Another waste of space produced by our world class uncivil service..
Oh Yeah from next month you going to see a $100+ markup on your electric bill and water bill as well, I urge everyone to buckle up and economize where possible
With the resultant increase in robberies, burglaries, thefts, and violence.
Buckle up.
Well there is always hope that this might start a mature conversation about the mess CORE has become lately plainly discouraging the participation in the program and wake up our world class civil service to consider to do something about the energy storage that was part of the program from the start.
If nothing has changed CIG up until now, nothing will out side of all the expats realizing the cost of living is just not worth it here and leave the island. from low wage workers to mid/high income earners. A lot of our economy is based on the fact Cayman has exploitative tendencies (like any other nation or institution due to the worshipping of efficiency) and if those being exploited uses they freedom and say “I’m out, no more since I get paid per hour less than one gallon of gas”, all the big families here will start to cry. Who will clean their lawns, clean their cars, serve their meals, wash their clothes, raise their children… god forbid they have to do any of it.
Maybe then we will start to see some change… when it actually affect those making the decisions. or perhaps we can make it affect them.
Wait till we get that light bill.
Not at refuel and even the Brac have it below $6. Just Esso price gouging so far by the looks of it.
Yep! Rubis is not raising prices until they finish what they have. Then will have to increase when the tanks are refilled next.
That’s where I filled up on Sunday.
You are lucky, gas prices in the U.K. are now are US$13 a gallon (diesel).
No they’re not. Stop talking nonsense.
1.77p/l as of 29/3/2022 which is CI$8.75/imp gal
closer to 10
Peter Gough is only here because Government back in the day thought it would be a good idea to import some career UK civil servants to roll out the infamous Public Management Finance (Failure) Law. Gough has made his way around very high-ranking positions in the service, remained relatively untouched and has provided relatively little (if any) value-added. He would be devoured in the private sector. OfReg is already on thin ice….this ought to be the end of it now.
You see.. so many strong statements made with so much conviction and yet you know nothing of which you speak and only serve to mislead others. Peter Gough been in Cayman since 1991. The law you refer to was introduced in 2003. I wish so badly that people would only comment when they actually know what they are talking about and not what someone told them or what they think.
So, 9:58, you’ve never believed something you read on Facebook or “someone told” you or “what you think”?
If you tell me something that should be factual and I am able to research it I do the research before I start to claim the statement as truth. If I am unable to verify it then if I am going to repeat it I am careful to say that I heard it but I don’t personally know whether it’s true or not. What I don’t do is come on to CNS and repeat wrong information that I heard as if I am making a statement of fact. But this unfortunately is practiced by so many on CNS who are doing nothing more than either making something up or passing along something that someone else made up. It doesn’t help the discourse. Why should I write something that’s not true just to win an imaginary argument with someone else who is posting anonymously. If we all did better with the truth then our postings would create a much more educated citizenry. If not it’s really just foolishness and misinformation isn’t it?!
At least part of your post is not true. Gough and the other Englishmen were brought in in the early nineties to help Jenny Manderson run the Personnel Department. He’s an O and M guy. Nothing to do with the PMFL which came later. He’s the only one left out of the Englishmen.
29 @ 6:32 am – Jenny Manderson who headed the CS Personnel Department. Would she be any relative to present DG Franz Manderson?
Ah yes. The good old days. When at least there was decorum and it was polite. When Caymanians had a genuine role and opportunities. When government generally functioned and rules were applied. Before the Jamaicans and Trinis took over.
Ah..just a hint into the UK lineage and strings that lead straight to the top of CS still today.
He dissolved a great civil service Personnel Training unit, and then hand selected the brn nose crews ever since
While Caymanians younger than he is are made to retire at 65.
Yeah, we got lots if change alright.
He speaks very highly of you though 🙂
lol.
He only speaks highly of 1 person.
Government can reduce how much duty is charged and pass the savings back to us. What is taking them so long?
Give Wayne a call, I sure him will have the answer.
3:15 pm, duties taken off NEVER passed on to consumers, at least NEVER IN THE BRAC.
Even if Gov did reduce, we still won’t see the savings as the gas stations will just pocket it!
OfReg is waste of tax payers money
Carpooling!!!!
And remote working! With fuel costs rising and inflation on food, workers need relief now!
This costs the government and business nothing and can be done instantly.
It will cost certain businesses. Much of the finance world here, lets say everyone decided to WFH to cut costs. The business would have an empty office they are paying rent for or leasing. If enough businesses take this approach, lets say for example in Cricket Square, then cricket square management would be afraid of the businesses realising they may not want to come back and pay the rent which Cricket can’t pay the banks, which banks would go under if they can’t collect on their receivables to pay their expenses which means they will have to either borrow or close.
Not only that, but businesses who have they buildings as assets on their balance sheet would be afraid that If enough people stop using buildings then office space prices would fall due to demand… then the business’ overall position is now lower due to an asset they will have to impair or write off, and they don’t want to present themselves as having less of anything. Numbers on a screen is all that matters to them.
So in my opinion, it CAN cost a lot of CIG and businesses.
don’t worry no-plan-pact will come to the rescue….
just look at they way have handled the traffic crisis!
just look at the way they have handled the housing crisis!
just look at the way they handling the redveloment of the dump!
just look at how well they managing othe cig finances!
just look at how well they are handling the work permit fiasco!
zzzzzzzzzz…welcome to wonderland.
what do you expect when you elect a bunch of poorly educated fools who fell into power without any plan, experience or basic manifesto?
inflation will push many average caymanians into poverty in the next 6-12 months.
So PACT is supposed give us free gas now. Stop fricking complaining and understand that this is happening all over the world. Has nothing to do with PACT/PPM/UDP or anyone else.
All the things you mention you expect this Government to solve in a year and a half and during covid but gave the PPM a pass for 8 years..I say give them a break. They have been no worse than the last group and that is one group I hope to never see in power again in my lifetime.
This is a full CI$2.20 per gallon more expensive than the price where I live on the US Gulf Coast (even after allowing for your larger gallon.) Said another way, it is 47% more expensive. I could be wrong, but I do not think shipping costs are CI$2.20 per gallon. Someone is killing it at these prices. I wish I owned your fuel terminal.
Maybe our Government can give us a reduction in the cost of duty on a gallon of petrol?
So in other words Mr. Gough is well placed to protect the Lodge Brethren Country Club’s status quo by ensuring all members are handsomely compensated for their ineptitude. Why would OfReg care about rising gas prices at OfReg when they drive gas guzzling SUVs with bottomless fuel tanks?
It’s little comfort to know the new interim ring master will not be breaking a sweat in his comfy swivel chair while keeping a lazy eye on skyrocketing gas prices and CUC’s fuel adjustment factor.
Apart from obviously showing that OfReg protects Infrastructure stakeholders interests and profit margins why can’t our AG provide a report showing how OfReg’s existence has resulted in real savings to the consumer?
The search for another Lodge brother yes man continues as the clown show rolls on.
BS. Why didn’t Gouph produce enough minions during his decades as a civil service consultant, who could now take over this job and many other senior positions at Port, Education, etc?
It’s all about his star chamber control and denial of deserved mobility in favor of hand selected slackers.
Now he is in this seat? Go home and recline and let a local try, fail or not.
Unreal that a gallon of fuel is higher than the minimum wage and projected to increase more! CUC should help the country out and absorb some of their fuel costs until things settle down.
Just like they did in Ivan and when Covid hit in March ‘20 , LOL.
They had five years to come up with a plan and still no plan in sight. ONLY in Cayman can you get paid for doing nothing!!!
Mate in Cayman you can get paid for making things worse. Born Caymanian but also British and American. Honestly I sometimes struggle to decide which of the three is most embarrassing / hopeless.
CNS with typos in their headlines again, 🙄
‘Gouging takes over’
Fixed it 👍
Good to know a #worldclass civil servant is in charge. To be fair, it cannot be worse than the last 5 years of ineffective regulation. Good luck sir.
It is a competitive market with prices published by gas stations. There is nothing stopping other entrants to the market if it is felt there is excessive mark up (which there isnt).
Can also form co-operatives and build a station for its members if feel there is so much money to be made.
Collusion is not competition. Opec taught us that.
Imagine what that fleet of shiny suv’s is costing us now.
Gas prices, the only thing in Cayman that regularly disprove the theory of gravity.