THE EDITOR: Does junior Finance Minister Brian Manning understand basic economics? He made a call for the elimination of the subsidy on premium gasoline.
Wasn't the subsidy removed on premium gasoline with the recent increase to $7.75 per litre?
In April, Finance Minister Colm Imbert told the nation that "without the fuel subsidy, the retail price of premium gasoline would range between $6.18 and $7.58 per litre."
At that time, he increased the price of premium gas to $6.75 per litre.
Five months later, he increased it again - to $7.75 per litre. However, he stated that the non-subsidised price was $7.66 per litre.
This means that at a price of $7.75 per litre, there should currently be no subsidy on premium gasoline.
Maybe Manning should have a little sit-down with his boss Imbert and learn the rudiments of subsidisation.
Of course, if necessary, I stand corrected.
LINUS F DIDIER
Mt Hope
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