The Cabinet Office advised that Prime Minister Hubert Ingraham met today with Mr. Oswald Moore, Chairman of the Margin Relief Committee of the Petroleum Retailers Association to review the state of the local petroleum sector within the context of the existing local and international economy. 

The Prime Minister advised the representative of the Petroleum Retailers Association that the price of gas is already high in The Bahamas and that the Government is not willing to impose a further burden upon the public. 

The Prime Minister noted that the price of petroleum products is falling internationally in response to a number of factors including reduced demand in North America, which has resulted in lower gas prices in various regions of North America. 

He gave assurances that the Government would revisit the request of the retailers for an increase in pricing margins once the present high cost of gasoline and diesel has decreased. 

The Prime Minister also advised that the Government will appoint a Commission to review the various complaints of dealers in relation to the high cost of operating their businesses under policies imposed by the major petroleum wholesalers.