Unipet begins "Gas Stations in Crisis" flag protest

Tuesday, March 21, 2017 - 19:45

Unipet's Chief Executive Officer, Dexter Riley has announced that Unipet stations have engaged in a flag protest campaign to remind the government of the urgency needed in revising the 2005 margins under which the industry has been operating, a statement by the company says.

In 2015, the Government of Trinidad and Tobago implemented a 200% increase in business levy and green fund levy.

Members of the industry say this made the gas station industry unsustainable and put many stations into losses.

Unipet says that over the past nine months, Unipet and others in the industry have been making representations to the Ministry of Energy and Energy Affairs for a revision of the 2005 margins.

The Unipet statement says that these requests have so far not resulted in any positive responses.

At the recently concluded Energy Conference, Unipet Chairman said the industry profit declined by $37 million and losses have been continuously incurred.

Unipet says it is committed to supporting the government in any efforts to modernise the industry and bring its operations in line with international best practices.

However, it says this can only be achieved if the industry is sustainable and not allowed to collapse due to neglect and inadequate margins.

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