RUBIS West Indies Limited, Dominica announces the suspension of fuel sales to its customers following significant financial losses incurred since entering Dominica in 2011 and which have accrued at an even greater pace over the past six years.
The information was presented in a statement dated September 15, 2022.
According to the statement, these losses are due to highly unfavourable mandated fuel prices, which are below the true importation value of fuel. A similar action had been announced by RUBIS Dominica in 2021. However, at that time, the Government of Dominica agreed to implement some changes to the regulated prices aimed at partially restoring the profitability of the fuel distribution business in this market, with further actions promised for the first quarter of 2022.
“ Unfortunately, the Government of Dominica has not taken any further actions to restore the profitability of the fuel distribution business and RUBIS Dominica has continued to incur significant losses as a result,” the statement said. “Regrettably, the regulated fuel prices that have been in effect for most of 2022 continue to be substantially below the true cost of importing fuels, and therefore, petroleum products are heavily subsidized by RUBIS and other fuel importers.”
The statement went on to announce that RUBIS Dominica will continue to engage with the Ministry of Trade, Commerce, Entrepreneurship, Innovation, Business, and Export Development to seek the implementation of a regulated pricing structure that would reflect the true cost of importing fuels into Dominica and would generate a reasonable return on the fuel distribution investments in the country.
RUBIS Dominica said it will resume fuel sales when such a price structure is implemented and wishes to clarify that it has allowed its Retailers to continue to sell fuel to the driving public at RUBIS Service Stations through our fuel dispensing equipment.
“However, as the fuel will no longer be supplied by RUBIS Dominica during this period of suspension, we cannot guarantee that fuel sold at our branded stations will be of the same quality as our Ultra Tec fuel,” the statement revealed.
RUBIS Dominica wishes to convey its heartfelt gratitude and sincere appreciation to its employees, retailers, retail, commercial and industrial customers, and the people of Dominica, all of whom welcomed RUBIS when the company began operations here in 2011 and have supported RUBIS ever since.
Meantime, in responding to the statement, Prime Minister Roosevelt Skerrit said during a live interview on State-Owned Radio DBS on Thursday, that there is no need to panic.
“There is no need to go into any panic buying,” he said. “If you have to [fill] up your tank you should go in and do that, but there is no need to go ahead and fill containers and store petroleum products at your home.”
The Prime Minister indicated that his government is aware of the situation and is in fact putting contingencies in place to deal with this matter.
He explained that since 2003 the government has had a price mechanism in place with the support of the suppliers of petroleum products in Dominica.
“Since then there are other countries in the Caribbean who have adopted that price mechanism…,” he explained. “We started first of all with having the price changed every eight weeks, this was further reviewed on the request of suppliers of petro products in Dominica to four weeks, where every four weeks there is a change in the price.”
Skerrit continued, “If the price goes up in the international market it goes up, if it goes down as we saw in the last four weeks…the price went down in the international market, it went down in Dominica.”
He further explained that there is an average that is used.
Skerrit indicated that his government met with RUBIS last year and early this year and what RUBIS is saying is that it needs to have an increase in its profit margin, “RUBIS has claimed that they have been losing.”
“It’s not that we are selling the petroleum products less than what it is imported into the country, but they are asking for an increase in the profit margin,” he remarked.
He continued, “We did give an increase early this year, but we have always said to RUBIS and others that one has to be mindful of the global reality and we cannot go ahead and give you an extreme increase in the profit margin in one-fell stroke, let us take it in a systematic way.”
The Prime Minister stated that unfortunately, there is war in Russia and Ukraine and what his government has also done to help cushion the impact is paying 85c for every gallon per gasoline to the suppliers.
“Since the situation started between Russia and Ukraine we saw a dramatic increase in the price of petro products,” he remarked.
Furthermore, he indicated that his government will continue to engage RUBIS and other suppliers of petroleum products in discussion through the Ministry of Trade and to see what can be done if anything needs to be done.
“We are open to discussions, the discussions must be transparent and information [that] we would ask of RUBIS they must make it available, they should make it available so that the government can have a better appreciation of its concerns and what realistically can be done to respond to the issue.”
He advises citizens of Dominica and consumers of petroleum products that West Indies Oil Station, National Petroleum (NP) gas station, and Petro Caribe have petroleum products.
“The government itself will be bringing in a significant quantity of gasoline and diesel and we will provide that to Petro Caribe,” Skerrit revealed. “Petro Caribe will supply the gas stations”
He said some of the RUBIS branded gas stations have reached out to Petro Caribe and Petro Caribe has started supplying some of them with petroleum products.
You know we have a lot of jokes in Dominica. Rubies in Canfield is hosting a mini protest but guess where the protest is taking place? Right at the gas station as if to suggest that they are protesting against themselves. Man if you all are serious you need to head towards the financial center where the oppressor Skerrit and his cabal ministers have their office. That’s where any serious protest should be taking place. Otherwise what you all are doing is just another joke another free show .
Skerrit forced Ross out of Country, causing banks to run, and now forcing gas companies out and all you there joking. Man all Dominicans from all walks of life should head to the financial center and have a massive protest to force the oppressor out man!
Why do you write such comment with disinformation and lack of understanding satisfying to your political partisan beliefs. Why should the protest be against The Government when it is the Government who is showing interest in lowering the gas prices for Dominicans. Let us suppose RUBIS gets it way, who do you think it would affect and who would be the beneficiary, isn’t the job of a Government to look after the people interest and the economy. What RUBIS is doing is typical of large international Cooperation profits for its shareholders.
Did Skerrit forced Ross out of the Country causing banks to run, and now forcing gas companies out of the Country, lol this is your ignorance I’m referring to, if you are ignorant of business operations you must not just assume what you think based on your political partisan beliefs and what you’re told by certain Politicians. Do you know what an oppressive Government is, does the actions of this Government oppressive, lol such cheap nonsense.
Why don’t you shut up, you tart. I’m growing sick and tired of your red propaganda.
RUBIS has fallen victim to its own bad management. RUBIS should have been fully aware of the pricing structure of petroleum products in Dominica, it was an open secret and nothing was changed to make it more difficult for RUBIS. RUBIS should stop trying to use the government as a scapegoat for it’s business failure.
What’s happening in Dominica Mr. President??
Banks are moving out..
Gasoline ⛽️ stations are closing down…
International Airport is at a stand still…
Passports are not selling anymore..
If you can’t handle the State of Dominica, get out Mr.Liar..👀👀….!!
Banks are closing all over the world. In the Caribbean foreign banks are pulling out and are been replaced with indigenous banks. Back in the day there was CDC, Geest and L.Rose shortly after independence they all sailed away. Remember that the only constant in life is change.
Fully expected! Lame excuses for gross incompetence from goons and diehards of a shady, unscrupulous, sinful, nocturnal oligarchy.
Thanks for your comment, dispelling ignorance. As I have said, before, there is a mental atmosphere pervading our Country that projects gloom in our country it has no place for reason, its chief aim is to marginalize the Country, but they will not succeed.
Just watch and see, Mary. Make sure you are not in DA when it happens…
Skerrit stated: “We are open to discussions, the discussions must be transparent and information [that] we would ask of RUBIS they must make it available, they should make it available so that the government can have a better appreciation of its concerns and what realistically can be done to respond to the issue.”
Is Skerrit referring to that kind of discussions he had with Ross University at the time? In other words none? The discussions must be transparent? Don’t make me laugh, the Master of smoke screens ask for transparency. I wonder if the time will ever come when Dominicans stop listening to this serial liar and dethrone him.
Roosevelt’s administration can be likened to a nocturnal creature (bat, owl). It functions best in complete darkness. It embraces opacity and disavows transparency. The man is a living contradiction. He asks of others what he stubbornly refuses to practise..
RUBIS has been trying to negotiate the way forward on the issue at hand for well over a year to no avail. Asking for RUBIS to put their grievances on the table is just a farce to deflect responsibility.
Roosevelt is the most mendacious, dishonest, and boldfaced liar ever known to mankind. The man is exceptionally objectionable.
When you wrote this comment, what is it that drives you to arrive at your conclusion, is it reason and understanding the predicament of the Government, or are you driven by your hatred towards the Government. The latter is what drives you, hatred, it reflects in your conclusion, so irrational. Who benefits for lack of transparency in these type of discussions, is it the Government. First off, I wonder if you really understand the fundamental reason for this discussion.
Is this about wondering when the time will ever come, that Dominicans should stop listening to this serial liar and dethrone him. Here is a situation that could affect people livelihoods and the economy, and bear in mind this situation is not only faced by The
Government of Dominica but by Governments around the world, and you write such an irrational comment and so long for your wondering
I am driven by hatred towards gangsters in general and in particular those that commit crimes against their own country and fellow citizens. Nothing more despicable! I also hate those idiots that try to defend these gangsters, in other words people like YOU. You have been asking for this a long time… well, now you got it!
Skerrit has built our country on LIES & deception
Our currency is: Corruption
Our main source of income is MONEY LAUNDERING
So you tell me where we going other than hell where Skerrit himself told us to go to. Unfortunately he didn’t tell us he was the one taking us to hell
What John 10:10 says again? “
The thief cometh not, but for to steal, and to kill, and to destroy”:
So Satan is a thief, a murderer and a destroyer according to Jesus.
One more description of Satan in John 8:44:
“Ye are of your father the devil, and the lusts of your father ye will do. He was a murderer from the beginning, and abode not in the truth, because there is no truth in him. When he speaketh a lie, he speaketh of his own: for he is a liar, and the father of it.”
A murderer, a liar whose native language is LIE and the father of lies.
That’s the spirit of Satan hovering over our country and we must, for God sake rebuke that spirit of Satan less we find ourselves doing the lusts of Satan. People I warning all you
I have said it many times and I will repeat. Dominica cannot go a step forward as long as Roosevelt Skerrit is Prime Minister and a paid cabinet of clapping ministers. Skerrit as Prime Minister alone is a curse. He did not get there with clean hands and holy heart and he continues to rule with that evil heart.
Therefore it’s impossible for his works to be blessed. No wonder all we have seen the last 22 years we’ve kept him in office is pain, sorrow and regression.
Why are we so blind? Can we not see it?
Let me share this unrelated passage of scripture from Genesis 4:10 -11 regarding Cain and Abel:
10 The Lord said, “What have you done? Listen! Your brother’s blood cries out to me from the ground.(Q) 11 Now you are under a curse(R) and driven from the ground, which opened its mouth to receive your brother’s blood from your hand. NIV
This Evil man is so damn evil and sold to Satan that he can literally plan and cause the death of a person and then turns around and gives them an expensive funeral with a costly happy hour to score points for his evil deeds. Now DNO I spoke about the evil man and didn’t call anyone by name. So please don’t accuse me of calling anyone and then delete my comment. In fact let me now call name. His name is Satan and that’s who I referring to
The thing I dislike about this untruthful and deceptive Skerrit is, he likes to create problems, let’s them get very bad and then comes with a deceptive solution so he could be seen as the problem solver. It’s like a doctor amputating your leg that was not sick and after a long time of suffering uselessly he comes back and gives you a false leg so you could move around. But deceptive Skerrit if you didn’t create the problem in the first place there wouldn’t be need to try to show yourself as the hero.
Skerrit says don’t panic but I wouldn’t be surprised that he has used that to start his own business registered under the name of a group
This is not a Rubis issue.
This is a matter in which the state continues to attempt to demonize the importers and the retailers of petroleum products every time those entities make a request for an increase in their magins.
Now you have to understand that those margins are mandated by the state who has zero investment in the process of purchasing the pertroleum products internationally and making those products available to the general public at the pumps.
The state then dictates that it shall be paid 3 to 4 rimes what the importer and retailer are paid as their matgin. They refer to this as profit but it is not.
Profit is what the state realises when in return for doing absolutely nothing it collects $3.00 on every gallon while allowing the importers 67 cents per gallon and the retailers 70 cents per gallon while state employees and departments can remain unproductive and salaried.
The state promised a tanker of fuel to placate public anxiety and one materialized today.
@Jonathan and I quote “If the other gasoline suppliers can survive on the profits they’re making then this might be a case of greed on RUBIS’ part”. RUBIS did not provide any proof regarding their so called losses as I mentioned in an earlier post so lets not rush to judgement and wait for additional details.
I was pleasantly surprised that you did not immediately jump on the band wagon that blames government for any and everything like some folks insist on doing since you are fully aware that there are always two sides to any story.
Hopefully, the situation is resolved soon.
When gas was $18.66 the likes of Bwa-Banday asked for BOOTS ON THE GROUND against the government.UWP,with the support of Bwa-Banday went on a campaign to block the road,and prevent children from attending school.Today the price of gas has gone down to $16.24,the same Bwa-Banday and co are now suggesting the government raise the price of gas.That is one of the reasons Prime Minister Mia Mottley exposed these crooks,traitors and house N in Washington DC.Bwa-Banday should now call for boots on the ground in favour of RUBIS.Double edge sword and haters of the Dominican people.Everything in favour,and for the interest of Dominicans,UWP against.Gas up they glad,gas go down they vet.They feel happy when they see Dominicans suffer.Typical UWP,”Is not all you that put them there,take what all you get”I saw Bwa on the Tuesday holiday dressed in sensay in the LAB.Oh what a JAH KA.S,Bwa can be,asking if the two days of mourning for the Queen are two public holidays in Dominica.
Good morning and happy Friday to you BIG CLOWN my dear clueless countryman.
Be advised that I have not, and will not call for the government to raise fuel prices. There you go again like your master telling untruths; or should I say blatant lies? Nonetheless, let me school you and the blinded bats (red, green, yellow, blue, pink) here again. The government’ effort in lowering the prices is commendable. However that is not the issue with the RUBIS situation. Consumers are somewhat benefiting now but the suppliers are hurting which can eventually lead to severe shortages. We need a balance.
Hence, in light of the lack of vision and wisdom on the part of your cabalist government, simple maths can be applied. SKERRIT needs to waive some of the duties (the government profits) so that can go into the ROI expected by the suppliers. I am sure this can be resolved very easily. The PM must stop being a “perceived” drama queen and do the right thing before more people lost their jobs.
I am surprised at you Bwa-Panday. Trying to reason with Lie Clown is synonymous with trying to with a bag of coal dust. It makes no sense.
You arguing with a fool only makes onlookers think there are two.
Never argue with a fool, he would drag you down to his level and beat you with experience.
I could not stop laughing at your so-called light of the lack of vision and wisdom on the part of the government, by you saying SKERRIT needs to waive some duties (the government profits) so that can go into the ROI expected by the suppliers, really. Let me ask you, the so-called RIO by the suppliers from the Government waiving duties, do you think that this goes back to Dominica, it goes to RUBIS shareholders.RUBIS is a Multi National Cooperation why are you that ignorant of their modus operandi as a Multi National Cooperation. RUBIS the supplier and RUBIS the Retailer are separate business entities.
Why can’t the supplier lower the price for the retailer. The severe shortages you are predicting is not be the result of Government not wanting to waive taxes, but by the supplier
business practice. Hasn’t the Government waived enough taxes. Do you know the Government budget is affected every time it lowers taxes, and it affects the services of the Government.
It’s very simple really, Skerrit controls Dowasco and recently he gained control of Domlec. For month and month he has been getting at Rubis and with his pricing policy he forced them to give in. Now him and his cronies are free to buy their own fuels on the global market. Voilà, Mister now also controls the supply of gas and gasoline products on the island.
Don’t forget NBD, the government is already the single biggest shareholder. So Skerrit controls this institution as well. Anybody hazard a guess why he would see fit to control a bank in Dominica. Didn’t NBD hold an account in Panama at the time of investigation. Why? I mean it’s common for banks to hold accounts with other clearing banks abroad but this was not a clearing bank! All I’m saying here, we only know a tenth of it! Trust me.
Businesses have been fallen like flies sprayed with insecticides since Roosevelt ascended to the apex of power. With Roosevelt, who is completely bereft of knowledge pertaining to anything to do with financial matters, there can be no good economic outcomes for the country.
What is most concerning is the loss of employment, and the devastating negative impact this could have on many sectors of the economy.
Leadership is about solving problems. Roosevelt creates problems. The man is not only incompetent but supremely egotistical and obdurate. A good leader leaves his ego at the door.
There is a disconnect between what ownership of Rubis is saying and what the minister of finance is saying. I’m reminded of CDC operating an estate in Castle Bruce and wasn’t happy with the profit they were making so they upset the apple cart and eventually the estate became a cooperative and the rest is history. If the other gasoline retailers can survive on the profits they are making them it sounds like Rubis is greedy and wants to trample on the consumers. I also suspect that it’s a copout because the FinCEN is watching Dominca like a hawk that has led to the ownership of Rubis seeking a way out because of the scrutiny. The chips will be falling fast soon. Don’t be fooled.
RUBis and two other fuel dealers have written to the finance minister complaining about the high excise taxes on the importation of fuel among other grievances.
Your first sentence stated that there is disconnect between the two parties (RUBIS & Roosevelt). Who do you believe, the habitual LIAR or the business owner(s) who has been negotiating for well over a year with the autocratic administration?
How much longer do you expect RUBIS to continue operating at a loss? It is statements like yours that give succor to Roosevelt to perpetuate his plunder and dumbing down of the country.
I will not give that Scorpion-Skeritt the time of day to offer him a listening ear and consider his dangerous and deceptive habits. This man and his enables have destroyed the livelihood of all Dominicans while their overseas bank accounts have grown tremendously.
What are Dominicans waiting for to act ? The economy is in disrepute and we may not see salaries in a few months time. Governments have been taken out for far less. Let’s Act!!
In my humble opinion everything the PM does or says is laced with lies.
If we look a little deeper than meets the eyes, one will realize that the CABAL is engaged in a deliberate smear against RUBIS. What RUBIS is saying has factual merits to it that cannot disputed hence the reason why the other suppliers are also complaining. What we do not know is which one of the cabalist has an eye on purchasing RUBIS assets once they are chased out of town as ALLEGED.
No company wants to operate at a loss much less to do so in the interest of helping a rouge regime save face. Now that Dcans are catching their nenen in this economy and cant afford to buy as they used to, every company engaged in buy and sell for profit is literally in trouble. If goods are not moving quickly enough, then chou-moon-fan in a market economy. The country is dead broke so he don’t want to remove/ lower government duties. The only bussiness thriving in Dca today is HIGHCLASS prostitution…