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No Cash, no gas beginning on Friday

No Cash, no gas beginning on Friday

debit-card-machineNo cash, no gas.
That’s what customers will be told from Friday (October 28), at gas stations throughout the country.

This has been described as a cost- cutting measure by the Trinidad and Tobago Petroleum Dealers Association (TTPDA).

Reports quote its President Robindranath “Robin” Naraynsingh, as saying that doing so is necessary “in order to pay our workers, to keep (all of) our staff.”

While this decision was taken at a TTPDA meeting last week, Naraynsingh said some dealers had stopped accepting debit/credit cards “long before”, due to the increasingly small retail margin.
He said that credit cards incur a cost which cannot be passed on to the customers because the Minister of Energy sets the retail price and the wholesale price of gas.

However he revealed that the acceptance of credit cards is a cost that axed in order to meet their commitments.

Gas-pumping-at-stationNaraynsingh said the vast majority of gas stations across the country are operated by TTPDA members.

Announcing its decision via a written statement late yesterday afternoon, the TTPDA said the Retail Margin, which should facilitate fair operational costs, has remained fixed since “circa 2005” while this past January, there was “a 200 percent increase in both Business Levy and Green Fund Levy Taxes, immediately destabilizing the business of retailing fuel in TT.

The TTPDA acknowledged the “inconvenience that this poses” but said accepting cash only payments “is the least jarring measure we can take to keep our nation’s gas stations in operation.”