On Tuesday, diesel was priced at $6.13 at Shell stations; $5.80 at Texaco stations and $5.73 at Esso stations.
At service stations across New Providence gasoline prices, meanwhile, continue to creep closer to $6.
At Shell, gasoline is now $5.65 per gallon; it’s $5.59 per gallon at Texaco stations and $5.50 per gallon at Esso stations.
President of the Bahamas Taxi Cab Union Leon Griffin said Tuesday that since taxi drivers got their last fare increases in 2001 the price per gallon of diesel has jumped 205 percent.
He said the price per gallon of gasoline has climbed 96 percent and many drivers are finding this to be an intolerable burden.
"Finally the government has decided that they’re about to give us that raise, but we don’t know how much that’s going to be," said Mr. Griffin, referring to a recent indication from Prime Minister Hubert Ingraham that the government is considering granting fare increases for public service drivers.
Over the months, diesel costs have steadily climbed, overtaking gas prices.
"In America diesel has been more expensive for the simple reason that you can get more mileage. The demand is now greater," Mr. Griffin explained. "In The Bahamas as well, the demand is high. The government is getting more revenue now from diesel as opposed to gasoline."
Mr. Griffin said that in light of the rising fuel costs, many taxi drivers are finding it extremely difficult to make ends meet.
"The money that they used to make after servicing their vehicles and doing everything to it, that is now going toward the cost of gasoline or diesel," he said.
"They are breaking even or losing and because of that we’re finding that more taxi drivers are charging more than what’s stipulated for the simple reason that they are losing and they are not able to provide for themselves and their families. Governments were taking a strong line where they were not giving us raises."
Eulamae Gordon, a chief price inspector in the consumer affairs division of the Ministry of Lands and Local Government, said as long as oil prices continue to rise on the international market, local consumers would continue to see increased costs at the pumps.
"Of course you know the prices are dictated by the added cost of government taxes. Freight dictates a higher price for the Family Islands," she said.
"I don’t look for anything to go down right now."
After soaring to an historic high of $140 per barrel on Friday, oil was priced at around $131 per barrel on the international market Tuesday.
