A special review committee will examine a request to increase the profit margin received by service station operators from 12 per cent to 15 per cent.

Prime Minister Gaston Browne informed Cabinet of the proposed review on Wednesday, one day after meeting seven representatives of service station operators and several fuel haulers.

The meeting followed the temporary closure of several gas stations amid concerns about dealers’ profit margins and the recent increase in gasoline and diesel prices.

Operators reopened their stations after the talks and an agreement that their concerns would receive further consideration.

Browne told Cabinet that, after hearing the dealers’ concerns, he did not regard their requests as unreasonable. He said a collaborative approach should be used to determine what adjustments can reasonably be accommodated.

Dealers cited higher labour costs, bank charges and other operating expenses as pressures on their businesses. They said that while they welcomed the increase in the national minimum wage, related wage adjustments throughout their operations had further affected profitability.

The committee will include representatives of service station operators, fuel haulers, the Ministry of Finance and the Office of the Prime Minister. It is expected to complete its work within 90 days.

The review will also consider the need to protect consumers from unnecessary increases at the pump.

Cabinet said the aim is to reach a fair and sustainable solution for dealers while preventing excessive fuel-price increases for motorists.