Pointe a Pierre MP David Lee has called on the Government to state if they have been overcharging citizens for fuel at the pump for the last seven months.
During the Mid-year debate, Pointe a Pierre MP David Lee revealed that for the last seven months, the average price of oil has been $79 dollars while the fuel price has been based on an oil price of $90(from the 2023 budget).
The Pointe a Pierre MP reminded the Parliament that both the Prime Minister and Minister of Finance are on record in Parliament, stating what the Price of Fuel should be when the price of oil reaches 80 dollars.
On April 8th, 2022, Hansard page 46 the Minister of Finance stated:
“If unsubsidized, the retail prices of premium gasoline should vary from $6.18 per litre at an oil price of US$80 per barrel to $7.58 per litre at an oil price of US$100 per barrel. Similarly, using the same range of oil prices, the unsubsidised prices of super gasoline vary from $6.09 per litre to $7.46 per litre”.
MP Lee revealed that the average monthly price of oil, has never surpassed 80 dollars since December.
“Therefore, Since December the price of Premium should have been 6.28 as the Minister of Finance said it would be when the price of oil reaches 80 per barrel as opposed to 7.75. Have they charged citizens 1.57 more per litre for the last few months?” Lee asked.
He said, “Since December the Price of Super should have been 6.09 as the Minister of Finance said would be when the price of oil reaches 80 per barrel as opposed to 6.97. Have they charged citizens 86 cent more per litre for the last few months?”