After promised price reductions at the petrol pump fell short of what people wanted, Cayman 27 approached the utilities regulator to answer concerns.
Acting OfReg CEO Duke Munroe was called away on Thursday (13 December), before we could sit down with him.
However in a written statement responding to our queries, Mr. Munroe told us the regulator is “currently empowered to monitor and analyse both competition and fair pricing in the fuel sector and make recommendation to cabinet on any intervention mechanism it considers appropriate.”
He added the reductions were “now going into effect so the public can expect lower prices across the retail network over the next few days.”
Mr. Munroe also said they would ensure global gas price reductions were reflected in Cayman over time, as there would be further regulatory interventions.