Tag: gas prices
Suppliers blame cost of living for pump prices
(CNS): The irony of claims by the two major wholesalers of fuel in Cayman that the cost of living here was causing high gas prices was not lost on Public Accounts Committee Chair Ezzard Miller on Wednesday. Pierre Magnan, president of the Sol Group, and Nicolas de Breyne, VP of Rubis, both blamed fixed costs […]
Pump price ‘not fair’ says OfReg deputy chair
(CNS): The deputy chair of OfReg’s board of directors has confirmed that the utilities regulator now has information that indicates the fuel suppliers are not passing on the savings they could to consumers when world prices fall. Ronnie Dunn said a recent survey of pump prices by the fuel team at OfReg showed that rates […]
‘We’ve been ripped off’ on gas prices
(CNS): The price of gas at the retail fuel pumps riled up several members of the Legislative Assembly on Monday, as they pressed the premier over what OfReg was doing to address the problem, given the dramatic fall in global oil prices this year. Chris Saunders (BTW) said, “We’ve been ripped off,” and everyone had […]
OfReg offers little hope on gas prices
(CNS): Gas prices finally started to fall in Cayman this week but the utilities regulator, OfReg, which is tasked with tracking fuel costs around the world as well as regulating the sector here, has backed the local fuel suppliers’ claim that the lag in price decline is unavoidable. For years there have been concerns that […]
Hong Kong firm begins OfReg work on fuel prices
(CNS): The utilities regulator, OfReg, has revealed that a Hong Kong-based firm has begun work on the long-awaited assessment of the fuel market in the Cayman Islands. OfReg said consultants from Economics Partners Limited, which won a recent tender, were here meeting with stakeholders to carry out the “market diagnostics” stage of this review of […]
OfReg dodges funding bullet from MLAs
(CNS): The utilities regulator, OfReg, came close to missing out on an additional $1.3 million in funding during the recent Finance Committee hearings after MLAs were tied on a vote for the money. Opposition members raised concerns over the regulator’s failings to address fuel pump prices and the wholesalers’ acquisition of gas stations. Several members […]
OfReg presses fuel suppliers on price
(CNS): Duke Munroe, who is responsible for the regulation of the local fuel sector within the Utility Regulation and Competition Office (OfReg), has told CNS that the regulator has intervened to persuade the local fuel suppliers to drop the price of fuel by more than they had intended and much sooner. While OfReg continues to conduct […]
Can all cars use gas containing ethanol?
I’ve passed by Refuel, the new gas station in Industrial Park, several times and noticed the lower prices they offer on their gas. But is the fuel OK to use in all types of cars? I’ve checked their website and cannot find any information about that.
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 […]
Irma will not disrupt supplies to Cayman
(CNS): If deadly superstorm Irma continues on its projected track, it will pass as a category 4 hurricane directly over South Florida and could cause severe damage to Miami, which is the main hub for goods heading to the Cayman Islands. However, residents here do not have to worry about shortages of medication, groceries or […]
CIG seeks public input on fuel regulator plans
(CNS): As government plans to create a utilities regulator that will include the fuel industry, it has published a policy document for public consultation on how the new office will take shape. Government is proposing to create an Office of Competition and Regulation, which will oversee telecoms, electricity, water and, for the first time, the […]
