Khan: NP will sell fuel at same cost in Trinidad, Tobago

ENERGY Minister Franklin Khan said on Monday that state-owned National Petroleum Marketing Company (NP) will continue to absorb the cost of transporting fuel to Tobago.

This was Khan's response to questions from Newsday about whether this would change as a result of NP gas stations being privatised.

Khan said, "NP, as the wholesaler, would absorb the cost for fuel to Tobago.

"NP will be selling fuel at the same price to retailers in both Trinidad and Tobago."

He said he will provide further details in his budget presentation.

As a government minister and senator, Khan will have the opportunity to speak both in the ongoing budget debate in the House of Representatives and again in the Senate, when the budget is debated there.

In his budget presentation in the House on October 5, Finance Minister Colm Imbert announced that all NP gas stations will be offered for sale to the private sector, with first preference being given to existing dealers and concessionaires.

Imbert said this initiative was part of the strategy to liberalise the local liquid fuel market.

"We are now ensuring that the pricing model will put the retailers on a self-sustaining and profit-oriented basis."