Monday, May 25, 2020

THE PRICE OF FUEL WOULD GO DOWN WITH THE MARKET PRICE IF THE WHOLE SALERS AND RETAILERS SHARE PROFIT IN A MORE EQUITABLE MANNER AND IF GOVERNMENT CURBS ITS APPETITE FOR EXECIVE TAXATION ON SMALL AND MEDIUM SIZE ENTERPISES

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The price of fuel in the world market has been dropping for a long time now but it is only recently that the pump price has been reduced in The Gambia.

Our findings reveal that the retailers are getting little after high wholesale prices and government taxation. This is what has kept the price of fuel higher than demanded by the falling world market price.

Government should revisit the fuel sector with a view to rationalizing the profit margin and taxation level for retailers. This would undoubtedly result in the reduction of prices and add to the sustainability of retailers.

Foroyaa will probe deeper to explain to the public why a drop in the price of fuel in the world market is not leading to the drop in pump prices. Is there a liberal market or monopoly in the importation of fuel?

Foroyaa will search for the answers.

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