MULLINGS
OPPOSITION SPOKESMAN on Energy, Clive Mullings wants an enquiry into the Government's pricing of petroleum products and the way it earns revenues from such products.
In a press statement yesterday, Mullings noted that the "spiralling cost" of petroleum products was "driving the economy to collapse by devastating the productive sector and plundering the poor, which can lead to social upheaval."
He called for an end to the use of the United States Gulf Reference Price in determining petroleum prices, and urged government to "establish its own domestic prices "similar to Trinidad, Venezuela, Mexico, Columbia and Ecuador."
Yesterday gasolene prices increased by at least $4.30, while the price of diesel oil moved up by at least a dollar and 30 cents.
Mr. Mullings was responding to Minister of Commerce, Science and Technology Phillip Paulwell's announcement on Wednesday night that if petroleum prices continued to rise significantly, Petrojam could not continue to absorb these increases.
Wednesday's increase said Mr. Paulwell reflected only 50 per cent of the real increase, because Petrojam absorbed half of the increase.
He said the Government had instructed Petrojam to absorb some of the increase to avoid a severe impact on consumers. This, until the situation in the U.S. Gulf Coast returns to normal.
But Mr. Mullings is questioning whether the Government has been absorbing increases in petroleum prices.
