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Nicholls: Rubis asked for increase

GERALYN EDWARD, [email protected]

Nicholls: Rubis asked for increase

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A TOP OFFICIAL of Rubis has confirmed the company had sought an increase in its share of the price of petrol charged to consumers.

“We were not too specific on the quantum of the increase we requested,” said Mauricio Nicholls, the chief executive officer of Rubis Caribbean. “We simply said based on the capital employed and based on the returns we were seeing for our business we thought that the margin should be reviewed by the Minister of Energy.”

At the same time, he made it clear that throughout the price shifts in recent years, the margin to the marketers Rubis and Sol remained constant.

“The last margin increase granted by the Government of Barbados was to be observed from November 1, 2011. The margins have been frozen for about six years without any adjustment . . . . It is not like Government is increasing our margins every year.” (GE)

Please read the full story in today’s Sunday Sun, or in the eNATION edition.