Sun Oil Limited, formally Shell, adjusted its pumps yesterday and as a result consumers in New Providence are paying $4.06 for lead free gas, instead of the previous $4.59. Diesel users are now paying $3.52 at pumps in the capital. These figures represent a 53 cents drop in the overall cost of gas.
In Grand Bahama, however, motorists are still paying $4.59 at service stations, but with news of lowered prices in New Providence drivers are anxiously awaiting changes at local pumps.
A spokesman at Freeport JetWash late Wednesday afternoon told The Freeport News that no information was forthcoming from their supplier with regard to adjusting prices at their pumps.
“In talks with people at the suppliers, I’ve learned that if there are any adjustments it may take up to a week or more,” disclosed the spokesman.
Meanwhile, prices at Freeport JetWash pumps remain at $4.59 and $4.51.
“I am constantly inquiring about lowering prices,” added the spokesman.
Several calls were made to Freeport Oil Limited (FOCOL) for executive Stephen Adderley, who promised at 4:19 p.m. to return a call. However, up to print time Adderley was still unavailable.
Last week the price of crude oil dropped $13 per barrel primarily as a result of Middle Eastern politics.
That fall in prices saw international consumers paying an average of $2.96 for regular gasoline per gallon. And, according to the AAA of Northern California Auto Club, prices were dropping by a penny per day.
The international average for gasoline has dropped 14 percent since its summer high and some states have seen an eight percent decrease.
Throughout The Bahamas, in May gas prices sky-rocketed, after suppliers received permission from Government to increase the prices at the pumps.
Motor vehicle operators complained, but they still paid what they called the “exorbitant” price, as prices climbed from the $3 bracket to nearly $5 in a six-month period.
Suppliers like FOCOL had to pay the high cost per barrel and the increase trickled down to the consumer.
However, with oil closing at $63.76, on the New York Mercantile Exchange, its lowest level since March, it is expected that gasoline consumers in Grand Bahama will get some relief at the pumps shortly.
By BARBARA WALKIN, Senior Freeport News Reporter
