Urgent meeting on fuel prices

THE COMMITTEE for Monitoring Petroleum Prices assembled in an urgent meeting, yesterday, following comments made by the head of the government’s Energy Department, Solon Kasinis, who is also a member of the Committee.

The meeting, which took place in the office of the Commerce Ministry’s Director yesterday morning, lasted over two hours.

Earlier this week, Kasinis had criticised petrol companies that some petrol stations weren’t reducing prices proportionally to the decrease in international fuel prices. He had further supported setting a government regulated ceiling on the retail price of fuel.

The Commerce Minister, who was abroad yesterday, will be notified today as to the outcome of the meeting and will then decide, if it is deemed necessary, whether the Commerce Ministry will be demarcating the island’s retail fuel prices from now on.

When asked by the Mail yesterday whether the meeting was satisfactory, Kasinis remarked, “Yes, I think so.” He refrained from making any other comments, stating that “for the time being, things should be left to calm down” until the Commerce Minister ultimately announces his decision.

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