Economist: Expect higher fuel prices in 2021

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Economist: Expect higher fuel prices in 2021

Should we expect to see higher fuel prices next year?

Well, according to economist Dr Vaalmiki Arjoon, the answer is YES!!

The Finance Minister announced on Monday that petroleum retailers and dealers will be allowed to fix their own margins from January 2021.

Dr Arjoon says this could lead to an increase in costs based on margins fixed by the Petroleum Dealers Association.

In his view, the petroleum dealers will likely meet to discuss a common benchmark that they would set for gas station operators.
And, he suspects that they will decide to stick to the international benchmark of 13.8 % , which basically means that we will be seeing higher prices at the pumps come next year.