Tag: fuel prices
PPM calls for full duty cut on fuel as COL bites
(CNS): Opposition Leader Roy McTaggart is calling on the government to remove all duty on fuel for twelve months to help people navigate the crippling cost of living in the Cayman Islands. Although the rate of inflation is slowing down, prices remain very high as the cost of most imported goods has increased due to […]
Select committee created to examine fuel sector
(CNS): Planning Minister Jay Ebanks will be chairing a new committee that was established in parliament this week to look at the cost of fuel in the Cayman Islands as a result of years of erratic and, more often than not, increasing fuel costs at the sockets at home and at the pumps. Successive governments […]
OfReg inching toward long-awaited fuel price transparency
(CNS): The Utility Regulation and Competition Office (OfReg) is in the process of drafting changes to the law to allow it to publish fuel prices as they land, OfReg interim CEO Peter Gough told Finance Committee on Wednesday. The regulator is also beginning an exercise, starting on Cayman Brac, to provide regulatory accounts that show […]
MPs to grill fuel suppliers on price
(CNS): Chris Saunders MP (BTW) successfully steered a motion through parliament last month to establish a select committee to determine how the price of fuel is arrived at here in the Cayman Islands. He said there is at least $2 charged on every gallon sold that, to date, has never been explained. Although this was […]
OfReg still working on fuel price transparency
(CNS): More than five years after it was created, the Utility Regulation and Competition Office (OfReg) is still working on some of the key aims and objectives that it was supposed to address. One of the main goals was to determine how the pump price for gas is calculated and whether it is fair, an […]
Consultants say ‘no’ to gas pump price controls
(CNS): The public is being encouraged to submit comments on a report by consultants contracted by the Utility Regulation and Competition Office (OfReg) on the Cayman Islands’ fuel market and how to make it more competitive and fair, given the serious challenges presented by its size. Identifying a significant lack of competition in a highly […]
OfReg takes first step in fuel price monitoring
(CNS): As the price of fuel inches towards $5 per gallon at the pump, the Utility Regulation and Competition Office (OfReg) has revealed plans to begin examining whether or not Cayman’s gas prices are fair and competitive. More than a year after legislation was passed in the Legislative Assembly to regulate the industry and protect […]
Activists plan picket at bulk fuel depots
(CNS): Members of a local activist group, frustrated with government’s inaction over fuel prices, are taking to the streets again to voice their concerns. ‘Cayman Is Fed Up With High Gas Prices’ has scheduled a picket at the fuel importers’ main depots, a gas station boycott, a carpool/bus week and another public march to bring […]
Local pump prices stick as oil costs tumble
(CNS): As the price of a barrel of oil fell below $28 Monday before making a fractional recovery in trading, and the price of gas dropped to just 47 cents per gallon at one station in Michigan on Sunday, prices in Cayman were still in many places over $4 per gallon. The issue of fuel costs […]
Gas price fall not enough, says activist
(CNS): The cut in the pump price of fuel to just under $4 at some local gas stations is not enough, local activists said as they announced plans to pump up the pressure on government to in turn press the two bulk fuel importers to cut prices by much more. George Ebanks, the spokesperson for […]
Customs knows bulk fuel pricing mark-up
(CNS): The acting information commissioner has said that customs was right to refuse an FOI request and withhold information about the price bulk suppliers are paying for the fuel it imports into the Cayman Islands because lifting the lid would be a breach of confidence that would not be overridden by public interest. However, Jan Liebaers revealed that […]
