Sunday 25 October, 2020

Ministry of Energy: fuel margins increased in October 2017

The Ministry of Energy and Energy Industries (MEEI) said following discussions with the relevant stakeholders and necessary analysis, increases in the operating margins in the liquid petroleum fuels sector were effected in October 2017.

The Ministry issued a statement in response to concerns raised by the Trinidad and Tobago Petroleum Dealers Association Inc. and the United Independent Petroleum Marketing Company Limited (UNIPET) with respect to operating margins.

The margins have been a pet peeve for years.

On Tuesday, Unipet stations cut back operations stating that their operating costs significantly exceed their income as a result of years of unsustainable fuel margins and a burdensome tax structure to the industry.
The Ministry said it continues to collaborate with the Ministry of Finance (MOF) in reviewing the suitability of the operating margins in the liquid petroleum fuels sector. 
The Ministry assured the motoring public that it continues to work with the relevant stakeholders to review the matter. 

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