No more credit card payment at gas stations.... Cash only!

[pete]

Just curious, Colm said green fund and business Levy are only paid if you're making a loss. That true or he just lieing? I assume the MINISTER OF FINANCE would not make statements like that if they were incorrect. Right?????

[adnj]

Just curious, Colm said green fund and business Levy are only paid if you're making a loss. That true or he just lieing? I assume the MINISTER OF FINANCE would not make statements like that if they were incorrect. Right?????

Business Levy and Green Fund Levy

The business levy is payable quarterly at the rate of .6% of the gross income of the company.  Payments of corporation tax are set off against the business levy liability of the corporation in the following year when returns are filed.  The individual taxpayer is entitled to a tax credit against his business levy liability for a year of income of any payment made in respect of his income tax liability for that year up to a maximum of his business levy liability.

No liability accrues in respect of gross sales giving rise to exempt income or gross sales not exceeding $200,000.00 per annum. Green Fund Levy applies even if the business is exempt from business levy, and is chargeable at the rate of .3% of the gross income of the company.

[pete]

So if you pay it this year you pay less corporate tax next year equal to the business Levy..I.e you dont pay it the following year?

[silent_riot]

adnj, for my own information, I'm curious where you got the statistics from.
I heard that 3 cents per litre was the margin on super, but you stated it as 17 cents.

[Redman]

Yeah that a pretty cool graphic.

Of course we are discussing GROSS Margins.. S

You have indicated NET margins in the graphic.

There are differences.

Average Retail Gross Margins in the US 2010-2015 were about 5.7%.

[Redman]

adnj, for my own information, I'm curious where you got the statistics from.
I heard that 3 cents per litre was the margin on super, but you stated it as 17 cents.

The margin is 17 cents on gas
I think 12 cents on Diesel
all per liter...

And thats the genesis of all of this -the Act states the margin as a fixed dollar value(cents) instead of a max percentage.
So the recent increases in the price did not change the monetary value of the margin

The PDA were discussing this with Dooks before 2010 election.

[Redman]

A small station would sell 12M in fuel per year.

[adnj]

adnj, for my own information, I'm curious where you got the statistics from.
I heard that 3 cents per litre was the margin on super, but you stated it as 17 cents.

The association president made the statement recently but it's buried in the financials. The article quotes him as saying that the business levy plus green fund was 9% but it is actually 0.9%.
http://www.newsday.co.tt/news/0,231241.html

And thats the genesis of all of this -the Act states the margin as a fixed dollar value(cents) instead of a max percentage.
So the recent increases in the price did not change the monetary value of the margin.

You're missing the point. The margins that should be expected are usually in the 1‰ - 3% net/net (net/net means after all expenses including the owner drawing a salary). That is for gross sales of EVERYTHING including oil, battery water, soft drinks, cigarettes and snacks. The gross margin on those items is normally 10% - 30%.

If the retailer has a margin on fuel in the 5% range (which apparently they do) then they are very likely to post a net margin on fuel sales even with fees at or near 3%.

My point is simple: it is not that the dealers aren't making ANY profit - they aren't making as much as they used to.

[Redman]

You are correct.I double counted the GF and BL in my earlier post.

The margin is factually 4 % gross.when you average the different margins between the 3 fuels,and proportional volume s.

This is what stations experience today.

That's what it is...as set by GORTT.
With the GF and BL...this is down to 3.1 before ANY OTHER expenses.


That's what it is.

Accessories account for less than 10% in most non c store sites.

But you also ignore local industry norms....

100% turn over of your stock within 1-2 days....and no credit facilities...
No control of your plant and equipment...they belong to your biggest competitor.
NP gets the wholesale AND piece of retail margins from the company owned sites....guess who gets better service and priority for refills.
oversees they ADD the credit card fees to the customers tab.And have different prices if you pay cash or credit cards.Not here
Ability to modernize efficiently...local operators do not have that ability..

The operators have been lobbying for margin increase s for 8 plus years.
They have tried negotiating down the transaction fees.
The solution is to upgrade their property...but they HAVE to get approval from NP and subject themselves to a state enterprise managing the upgrades.


The situation is that they are net net losing money.

What any one thinks they should be is irrelevant.

[dude2014]

You all does Turprise me a lot. Brentwood took ten years? The family that owns UNIPET took the GOVTT of TNT to Court and the Judiciary ruled in favour of UNIPET, opening up the market for other persons to follow suit.

I had indicated that operators, whether they be owner or leasee need to get their head out their Ascot. they need to come out of the dark ages and adopt new business models. I hope I am remembering correctly, if not advise me please. The family I think is the Rahamut and others. They have their headquarters in Mission Road Freeport. Drive down and check it out.

Been using LINX in Charlieville and Brentwood.

[dude2014]

Imbert said NP IS to keep taking card payments...on CNC3 jus now.

Who is the Minister in charge of NP? Nicole or Colm? Why the Ascot he doh try that on UNIPET. He would be dragged to court so fas, he wouldnt have time to order a Peerah to stand on ..........

[desifemlove]

Imbert said NP IS to keep taking card payments...on CNC3 jus now.

Who is the Minister in charge of NP? Nicole or Colm? Why the Ascot he doh try that on UNIPET. He would be dragged to court so fas, he wouldnt have time to order a Peerah to stand on ..........

http://www.looptt.com/content/imbert-on ... c-payments

UNIPET ent stated owned.

[Redman]

You all does Turprise me a lot.
Brentwood took ten years?

Plus or minus yes-To get a license for a new to industry site you need to have the land then get approvals/support from MOE and NP(at that time)-Post 2010 then NP chair Gosine was arrogant and stupidly wanted to start negotiating from the beginning and Medfords switched to Unipet.

The family that owns UNIPET took the GOVTT of TNT to Court and the Judiciary ruled in favour of UNIPET, opening up the market for other persons to follow suit.

AFAIK Unipet at the start was owned by multiple shareholders

I had indicated that operators, whether they be owner or leasee need to get their head out their Ascot. they need to come out of the dark ages and adopt new business models. I

Quite true.
BUT If you own a site you CANNOT upgrade without approvals from NP.
Approval to Upgrade,
Approval of Design,
Then MOE and T/C
As a state enterprise they dictate the pace.
So a Dealer is now subject to the internal company strategic plan for ITS own sites.So they drag the dealer on based on the their plan-hence the LONG delays in upgrades.
Thats a massive conflict.

Some how the company owned sites have a better experience on the Upgrades than Dealer owned.

hope I am remembering correctly, if not advise me please. The family I think is the Rahamut and others. They have their headquarters in Mission Road Freeport. Drive down and check it out.

Rahamuts is owned by the Rahaman family.
They owned/operated 7 NP sites in south- The currently operate the big NP site by COE.
They have nothing to do with UNIPET.

Esau Jan transport Co was bought by UNIPET.
Currently HQ d on Mission Road.

[pugboy]

the new gas station by flour mills took over 7 years to get off the ground
many a stumbling block placed in front
down to the last month before opening after being ready for several months

[Redman]

Imbert said NP IS to keep taking card payments...on CNC3 jus now.

Who is the Minister in charge of NP? Nicole or Colm? Why the Ascot he doh try that on UNIPET. He would be dragged to court so fas, he wouldnt have time to order a Peerah to stand on ..........

This is where it is interesting....the Min of Energy is the line minister with direct authority over NP.
BUT

As a state enterprise the Min of Finance is corporation sole-which essentially makes the PERSON of the Min of Finance the only shareholder/officer of NP...
does this authority supersede the line minister???

Also Unipet while not overtly supporting the move(based on MoF reaction we understand why) stands to benefit from anything the PAD achieves.

[nervewrecker]

adnj, for my own information, I'm curious where you got the statistics from.
I heard that 3 cents per litre was the margin on super, but you stated it as 17 cents.

The margin is 17 cents on gas
I think 12 cents on Diesel
all per liter...

And thats the genesis of all of this -the Act states the margin as a fixed dollar value(cents) instead of a max percentage.
So the recent increases in the price did not change the monetary value of the margin

The PDA were discussing this with Dooks before 2010 election.

At 0.17 on gas and no car taking less than $100 to fill up that's $17.00 a minute they making becauee multiple pumps in operation.
Tell me again how they poor?

[nervewrecker]

All the unipet station taking card except the one in fyzabad.

[Redman]

adnj, for my own information, I'm curious where you got the statistics from.
I heard that 3 cents per litre was the margin on super, but you stated it as 17 cents.

The margin is 17 cents on gas
I think 12 cents on Diesel
all per liter...

And thats the genesis of all of this -the Act states the margin as a fixed dollar value(cents) instead of a max percentage.
So the recent increases in the price did not change the monetary value of the margin

The PDA were discussing this with Dooks before 2010 election.

At 0.17 on gas and no car taking less than $100 to fill up that's $17.00 a minute they making becauee multiple pumps in operation.
Tell me again how they poor?

mainly cuz their math is better than yours.

its 17 CENTS per liter of fuel.

if as you think the margin was 17% they would dead quiet.....not a peep.

[nervewrecker]

adnj, for my own information, I'm curious where you got the statistics from.
I heard that 3 cents per litre was the margin on super, but you stated it as 17 cents.

The margin is 17 cents on gas
I think 12 cents on Diesel
all per liter...

And thats the genesis of all of this -the Act states the margin as a fixed dollar value(cents) instead of a max percentage.
So the recent increases in the price did not change the monetary value of the margin

The PDA were discussing this with Dooks before 2010 election.

At 0.17 on gas and no car taking less than $100 to fill up that's $17.00 a minute they making becauee multiple pumps in operation.
Tell me again how they poor?

mainly cuz their math is better than yours.

its 17 CENTS per liter of fuel.

if as you think the margin was 17% they would dead quiet.....not a peep.

Shucks, I now woke up dey. Hard luck *shame*

[Strugglerzinc]

Thats roughly $1000 for every 6000 liter of gas. My car takes 45 liters from E to F. Thats 133 cars taking that amount of gas to make $1000.

Pressure.

[rspann]

Excuse him, DeviCa had him up whole night.

[nervewrecker]

Excuse him, DeviCa had him up whole night.

She loves me, she just don't know it yet.

[ado15mk3]

All the unipet station taking card except the one in fyzabad.

And couva apparently

[De Dragon]

All the unipet station taking card except the one in fyzabad.

And couva apparently

They start that stupidness again? Last time I report they skunt, and up to this week I swipe normal normal. I go make a pass again and see.

[j.o.e]

When last you went in a gas station and see a pump attendant ? I not saying that there aren't gas stations that have pump attendant but most are only man by a few cashier. So I and everybody else is doing the work of the pump attendant for free.

When last you went to a gas station and some ask you if you want your wind screen clean or check your oil level ? And still they can't make a profit without cutting down on staff who else is there to get rid off ? Maybe one cashier instead of 2

Guppys in San Juan have like 5 attendants assisting you at the pump.

Doh understand how ppl does feel comfortable buying gas in that run down place.

Is gas I buying not food.

[racedriverpro]

I was there a morning when the tanker came to fill up...rel rubbish went down the hatch when they open it and alot of water settles all over the gas station since they under washing etc compounded by poor drainage. I cyah vex with u....I just wouldn't buy there.

[ado15mk3]

All the unipet station taking card except the one in fyzabad.

And couva apparently

They start that stupidness again? Last time I report they skunt, and up to this week I swipe normal normal. I go make a pass again and see.

i thought all unipet was not affected but when i pull up i saw all the pumps had tape where you swipe and a big sign on the inside.
i does normally swipe at the pump to avoid lines and trekking back for change.
this is real toots...

[nervewrecker]

All the unipet station taking card except the one in fyzabad.

And couva apparently

They start that stupidness again? Last time I report they skunt, and up to this week I swipe normal normal. I go make a pass again and see.

Report the one in fyzabad too plz.

[Morpheus]

Swiped at the pump today. Unipet Tacarigua

[desifemlove]

Most likely ah Hindu man who did this at the Petroleum Association. only some move (like most of them) to push some conspiratorial Hindu agenda onto the country. His agenda look like it crumbling since the government and Unipet have seen through this already.