Fuel prices up again; dealer margin not to blame

As of midnight last night motorists are paying more for each mile they drive. Premium gasoline is up eight cents to six eighty-nine per gallon, regular rises ten cents to six sixty-four, while diesel is up two cents at four eighty-eight. The Price of kerosene remains unchanged at four dollars and three cents. According to Financial Secretary Joseph Waight, the price increases are due solely to higher acquisition costs by the importers and not to any increased profit margin by gas stations.

Meanwhile, negotiations continue between government and the Association of Service Station Dealers to reach a new price formula that would result in a bigger slice of the pie for dealers. Those retailers currently operate on a fixed margin of forty-five cents for each gallon of fuel they sell. This, they say, is not enough to cover their expenses. Waight, who also chairs an ad hoc committee formed to come up with the new formula, says the committee should present its recommendations to Cabinet by the end of this month. That committee is made up of members representing sole importer Esso, wholesalers, truckers, the dealers, and government.