Gas Station Fined for Violating Fuel Price Regulations
August 25, 2024 4:29 pm
The Inspectorate of Economic and Transport Affairs (IETA) today announced that a fine has been imposed on a gas station located at Juancho Yrausquin Boulevard (across from Fairway MarkIT Supermarket), for offering gasoline and diesel products at prices higher than the maximum limits set by the Minister of Tourism, Economic Affairs, Traffic and Telecommunications TEATT).
During a routine inspection on August 17, 2024, officials from the Ministry discovered that the gas station was charging customers NAf2.494 per liter for gasoline and NAf2.055 per liter for diesel, both of which exceeded the permissible rates established under the ministerial regulation AB 2024, no. 29 Regulation maximum prices petroleum products.
The current maximum prices permitted by the Ministry are NAf2.394 per liter for gasoline and NAf1.908 per liter for diesel.
This violation is in direct contravention of the pricing guidelines issued by the Minister of TEATT, which are designed to protect consumers from price gouging and ensure fair access to essential fuels.
Lucien Wilson, the Head of IETA, stated, "The department is committed to enforcing the laws that protect consumers from unfair practices. We take any breach of these regulations very seriously and will continue to monitor compliance across all gas stations."
The fine imposed on the gas station amounts to Naf250, reflecting the seriousness of the violation. The Ministry is also issuing a stern warning to all gasoline stations to adhere strictly to the pricing regulations or face similar penalties.
In addition to the fine, the gas station is required to immediately adjust their fuel prices to comply with the legal limits. Failure to do so may result in further legal action, including the potential suspension of their operating license.
The Ministry of TEATT encourages consumers to report any suspicious fuel pricing at gas stations to the Ministry’s WhatsApp Hotline Number +1-721-559-6233 (texts and photos only) or through the official website www.maxpricesxm.
The Ministry of TEATT is responsible for ensuring policy, legislation and regulations in the field of energy issues as well as monitoring their implementation and ensuring the development, maintenance and implementation of an orderly control and inspection of economic regulations. The Ministry is dedicated to protecting consumer rights and maintaining a stable and transparent energy market.
