End pump rip-off or else…

THE GOVERNMENT warned yesterday it would set a price cap on fuel if petrol stations do not cut their prices when they ought to. Trade and Industry Minister Antonis Paschalides said a recent survey showed forty per cent of petrol stations had not lowered their prices when they took delivery of fuel at lower prices. “The next time such a number of petrol station owners do not comply and lower their pump prices … then a (price-setting) order will be issued without any consultation,” Paschalides said. The minister said checks had been carried out between Christmas and New Year’s Day as well as three days ago. The highest compliance rate was recorded in Nicosia while Paphos was at the bottom. He said the ministry had toyed with the idea of issuing an order this time but decided against it to avoid victimising station owners who lowered their prices. “We expressed our determination that this kind of behaviour cannot and will not be tolerated. It is the first and last time,” Paschalides said after a meeting with the association of petrol station owners. Stefanos Stefanou, the association chairman conceded that many stations delayed in changing the prices. “Surely if ask each outlet they will have their own excuse,” Stefanou said. “Some would say they had a lot of stock, which had not been sold when the price was higher.” He promised that his association will work towards eradicating these phenomena. Stefanou noted that this could not be done from one day to another, but “we have got the messages and will inform our members on how to act” when prices change. He sought to dispel the impression that petrol station owners made a lot of profit, saying many outlets had problems of survival. Small business association representative Stefanos Koursaris said the owners’ commission was very low. “The fuel companies do not raise the commissions resulting in over 50 per cent of the outlets facing viability problems,” Koursaris said.

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