The announced increase in the Fuel Excise Tax was due to take effect in June. That decision has been deferred to July.
However, Petroleum dealer, Everistus Jn Marie, warns that consumers need to brace for an impending increase. Jn Marie says the situation will probably be made worse, given that oil producing countries have already indicated that they are getting set to reduce oil and gas production, thereby driving up prices. Jn Marie says as transportation costs go up, so will the cost of goods. He also predicts that it won’t be long before bus drivers begin to clamour for some relief from government. That he says may take the form of bus fare increase.