There is a real and worrying likelihood that many of T&T's 170 gas stations would be closed for lack of profitability and other issues. For this, the Government, and especially the Minister of Energy, must be held directly responsible.
The authorities have been properly informed for several months now about the critical issues facing the gas station industry, but the Ministry of Energy has remained disinterested and indifferent.
The Minister's statement in Saturday's media about a planned investigation further indicate their lethargy and lack of concern about a matter that impacts the lives of thousands of people.
The Ministry was previously advised that the punitive 0.9 per cent Green Fund and Business Levy on petroleum dealers was severe and unfair since their earnings are based on a fixed rate per litre.
There have been appeals from the Petroleum Dealers' Association for a practical profit margin in order to stave off the unavoidable closure of gas stations and retrenchment of more than 2,000 workers.
Each time the retail prices of fuels are increased, gross profits for these operators decline, since there is no revision of the profit margins.
Payment of salaries and wages to pump attendants, maintenance and other staff, in addition to electricity and other essential costs leave petroleum dealers without a living wage.
Many earn less than $5,000 a month. Some operate at a financial loss.
Representations have been made to the authorities and, in particular, to the Minister. Yet letters to the Ministry have not been acknowledged.
The Ministry would be aware that, over the past couple years, about 20 gas station dealers have closed their respective operations and this has caused difficulty to the motoring public in those communities.
The situation is urgent and dire and impacts not just workers and petroleum dealers, but the entire motoring public.
The Energy Minister and the Minister of Finance must intervene now to assist and save this vital industry from ruin. The Petroleum Dealers' Association has indicated its preparedness for discussions. I strongly recommend that a meeting be convened as soon as possible.
Neil Gosine,
Former Chairman,
National Petroleum Company Ltd