News
Fuel not likely to go down, but one Grocer says his prices will
Caicos Oil & Sam’s Club open up about the Government’s Fuel & Food Tax Break set to take effect April 1
By Dana Malcolm
Staff Writer
#TurksandCaicos, March 24, 2022 – With SEVEN days until the legislation approving the Food and Fuel Tax Break set to come into effect some business owners, had on Tuesday said, they had yet to hear from the government to work out a plan in order to pass on those savings to consumers.
The government admitted during a press conference announcing the $15 million dollar tax break last week that there had not yet been any meetings with business owners.
Caicos Oil is a leading fuel supplier in Turks and Caicos, we asked the company what kinds of savings Consumers would notice at the pumps come April 1.
“I very much doubt you will see any change at the pumps because the cost of fuel increases 2-3 times per day in some cases, in addition to that, transportation of cost of the Fuel are rising as well……. to Truck the Fuel in respective countries to the Ports topped by the increase Ocean Freight Transportation makes it no easier on consumers.” Says McAllister ‘Piper’ Hanchell, Managing Director of Caicos Oil.
The cost of oil per barrel today (March 24) is $112 USD. A week ago, it was $102. During the course of the day, the price has changed an innumerable number of times ranging from $111 to $114 per barrel; all in a 16 hour window.
Hanchell, earlier in the week informed his company had not had any talks with the government noting that he learned about the tax breaks the same way the rest of the TCI did; in a National Press Conference held on March 22.
“It is my understanding from what I have read in the public domain that there is a plan to reduce the road user tax by $0.21 cents per US gallon.” he said.
“In addition to 2.5 per cent of the value of the fuel which equates to $0.08 to $0.10 per US gallon, overall from the government’s perspective they are lowering the costs to about $0.29 to $0.31.” The businessman explained.
Hanchell says this means that it is likely that the customers will not see a decrease at the pumps, but he does have a suggestion.
“The 8.5 per cent Road User Tax gives the government anywhere from $1.60 – $1.70 for Gasoline and $1.22 – $1.32 in taxes for Diesel.
What the government should consider is dropping the entire Road user tax of $0.85 per U.S. gallon for a period of time in order to provide some real relief to consumers,” he continued.
“The Road user tax was implemented by the Michael Misick Administration at $0.25 per US Gallon for the sole purpose of creating a segregated fund for road building across the nation…. since then the $0.25 cents per U.S. gallon has increased to $0.85 cents as a consolidated revenue item.”
While it seems relief at the gas pumps will not be had by the motoring public, at least one grocer says he can offer a clear cut path to seeing savings on food and other home supplies.
Gus Karagiannis, the owner of Sam’s Club Wholesale on Leeward highway in Provo has a plan to help shoppers save.
Gus, as he is affectionately called by islanders explained that a 3 per cent discount was easy enough to apply and that is what he will do, give shoppers at Sam’s Club, three per cent off at the cash register.
“For the past six months people have been shopping at the Sam’s Club store and saving money. And I will continue to do my best to keep prices low.” He vowed.
The discount should push already competitive prices at the warehouse style store even lower; a balm as residents struggle against inflation and the disappointing news that fuel prices are less likely to fall due to the cost of oil in the open market.
Turks and Caicos, January 20, 2025 – Her Excellency the Governor Dileeni Daniel-Selvaratnam chaired the 41st meeting of Cabinet held on December 11th, 2024. All members of Cabinet were present with the exception of Hon. Rhondalee Knowles, Attorney General, with Ms. Khalila Astwood acting as Attorney General.
At this meeting Cabinet:
- Considered proposals related to the 2022 Crown Land Review Report.
- Approved the mutation of parcels 60603/57, 60610/316, 60700/107, and 20313/47, 58 & 59 and for the same to be vested with the
TCI Airports Authority. - Received a presentation on proposals on the integration of Virtual and Augmented Reality (VR/AR) technologies into programs at the Turks and Caicos Community College.
- Approved the management authority of parcel 60503/315 to the Turks & Caicos Islands Sports Commission for multi-purpose use for the development of a community park and recreational facility.
- Received a presentation from the Turks and Caicos Islands Sports Commission on the establishment of a National Sports Training Centre.
- Received a presentation from the Turks and Caicos Islands Sports Commission regarding the establishment of a Department of Parks and Recreation.
- Received a presentation from the Ministry of Health on matters relating to the National Health Insurance Board.
- Approved the re-appointment of Mrs. Angela Musgrove as the Chief Executive Officer of Invest Turks and Caicos for a three-year term.
- Approved the appointment of Mr. Henry Wilson as a member to the Fisheries Advisory Committee.
- Noted the award of the following contracts in line with the process according to the provisions of the Public Procurement Ordinance; Contract Award Notification:
- PN 005690, TR 24/09, Upgrading Bight Park
- PN 005729, TR 24/23, Vehicles for Immigration
- PN 005730, TR 24/08, DDME Communication Equipment – Mobile Antenna
- PN 005765, TR 24/31, Redevelopment of Regatta Village
- TCINIB 01/2024, TR 24/26, Vehicles for NIB
Further information on these matters will be presented by Ministers in due course.
Turks and Caicos – Her Excellency the Governor Dileeni Daniel-Selvaratnam chaired the 40th meeting of Cabinet held on December 4th, 2024. All members of Cabinet were present, with the exception of Hon. Jamell Robinson, Deputy Premier and Hon. Rhondalee Braithwaite-Knowles, Attorney General, with Ms. Khalila Astwood, acting as Attorney General.
At this meeting Cabinet:
- Approved the Turks and Caicos Islands Fiscal Strategic Policy Statement.
- Approved the negotiation of a Development Agreement/Order with Retreat Development Ltd.
- Approved the transfer of excess revenue from the Consolidated Fund into the National Wealth Fund for the Financial Year Ending 31 March 2024.
- Approved Planning Application PR 17673 for a proposed watch tower and rest station on block and parcel 60000/345 for the TCI Regiment.
- Approved the negotiation of a license agreement with the Proprietors of Balfour Salt Ltd. for a period of 10 years.
- Approved the policy document for the use of Biometrics and Introducing an Electronic Travel Authority Requirement.
- Approved the appointment of Mr. Lynden Hall Snr. as a member of the Turks and Caicos Islands Gaming Control Commission Board for a period of two years.
- Approved the write-off of water charges and penalties in accordance with Section 52 of the Public Financial Management Ordinance 2012.
Further information on these matters will be presented by Ministers in due course.
January 20th, 2024 – Nassau, Bahamas – The Bahamas National Trust (BNT) proudly announces the release of its 2023-2024 Annual Impact Report, which documents key conservation milestones achieved from January 2023 to June 2024.
Highlights from the report include: completion of the BNT’s 2024-2029 Strategic Plan – a comprehensive roadmap to guide the organization’s efforts over the next five years; the declaration of Seahorse National Park in Eleuthera as the country’s 33rd national park; advancements in critical scientific research and the creation of conservation plans aimed at protecting endangered species; major infrastructure improvements in national parks, enhancing visitor access and recreational opportunities; and new strategic partnerships with
local and national organizations for collaborative national park management.
“The past 18 months have been a pivotal chapter for the BNT,” said Lakeshia Anderson-Rolle, Executive Director of The Bahamas National Trust. “With the unwavering support of our members, donors, and partners, we’ve expanded our national park system, advanced critical conservation efforts, made major infrastructure improvements in national parks, and connected thousands of Bahamians to their parks. These achievements underscore the power of collaboration and inspire us to continue building a future where people and nature thrive together.”
Looking to the future, the BNT’s 2024-2029 Strategic Plan prioritizes enhanced park management, tackling climate resilience, addressing invasive species, and strengthening community partnerships to ensure the sustainability of The Bahamas’ national parks.
The Bahamas National Trust extends heartfelt thanks to its supporters for making these achievements possible, and invites everyone to explore the full 2023-2024 Impact Report on its website at https://bnt.bs/2023-2024-impact-report/.
To learn more about the BNT’s role in managing national parks, protecting wildlife, and informing environmental policy, please visit its website: www.bnt.bs, and follow its various social media channels: Facebook, Instagram, Twitter, and YouTube.
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