Petroleum retailers on New Providence say that they have decided to take action to ensure the viability of their businesses as discussions with the government over their current fuel margins have not yielded the desired results.
According to Raymond Jones, president of The Bahamas Petroleum Retailers Association, following an emergency meeting yesterday, 80 percent of the petroleum retailers on New Providence have decided to take action to reduce their operating costs.
“We can no longer profitably operate in The Bahamas. The purpose of our meeting was to make a decision on the course of action to take to bring some attention to our cause and the plight that we face currently,” said Jones.
He continued, “The next course of action is for us to minimise our operating costs and that means looking at how we can reduce our operating hours, but you can stay tuned to that because we have decided what to do, and we will make the public aware of that at some point in short order.”