After years of clamouring Cayman’s fuel industry will be kept under watchful eyes. At least that’s the intention of new legislation heading to the LA.
The Fuel Market Regulation Bill will be among an estimated 28 pieces of legislation set to hit the LA when it resumes on Febuary 22.
It creates a framework to monitor fuel prices which would be done by the petroleum inspectorate. The law is connected to the Utility and Competition Office law and seeks to prevent any monopoly in the fuel supply chain
It provides for consumer protection and promotes fair competition.
It also promotes the introduction of alternative fuels.