Anticipated gasoline value hike nonetheless shocks drivers

Expected gas price hike still shocks drivers


Esso on Seven Mile Beach (from social media)

(CNS): The price of a gallon of fuel shot up Tuesday, when the Seven Mile Beach Esso became the first local gas station to break the CI$7 mark, but the rest will soon follow, OfReg has confirmed. With an increase of more than 60 cents, regular gas jumped from around $6:31 at the Esso stations to $6.94, while premium climbed to $7.13. Although the hike was expected, given the soaring gas prices around the world, the increase was still a shock as drivers began expressing their outrage.

Social media posts on Tuesday expressed continued concerns about price gouging, and that Cayman had not seen any decline in fuel prices to reflect a drop from the peak in March when crude oil reached US$130 per barrel on the global market.

CNS contacted the utilities regulator, OfReg, about the hike, and they told us it had been cleared and was a result of the batch of fuel purchased by Sol when prices were high, which the wholesaler imported…