Premier and Minister of Finance Dr. the Honourable Natalio D. Wheatley (R7) has announced that the new Consumer Protection Bill, which will soon be passed into law, will not regulate gas prices. Instead, it will solely focus on regulating the prices of items within the essential basket of goods. Photo: Facebook

Many consumers across the Virgin Islands have expressed concerns over fuel prices throughout the territory. The Premier addressed this particular concern regarding whether the Consumer Protection Bill would cover gas prices during the Virgin Islands Voice program held on Wednesday, May 6th, 2026. Photo: Internet Source

Bill will not regulate gas prices

Many consumers across the Virgin Islands have expressed concerns over fuel prices throughout the territory. The Premier addressed this particular concern regarding whether the Consumer Protection Bill 2026 would cover gas prices during the Virgin Islands Voice programme held on Wednesday, May 6, 2026.

He emphasised that the Virgin Islands operates under a free market economy and does not foresee the regulation of prices for every vendor and every commodity. "We are in a free market economy, and, generally, we let market forces determine what the prices are. So we determine what the prices are for the goods which are essential for life, and of course, persons can argue that gas should be one of those things." 

Bill first reading 

The Cabinet of the Virgin Islands (VI) approved the Consumer Protection Bill 2026 on Wednesday, May 6, 2026, and its first reading took place during the Continuation of the Second Sitting of the Third Session of the Fifth House of Assembly (HoA) today, Thursday, May 7, 2026.

Honourable Wheatley clarified that while gas prices will not be regulated, the Act will ensure consumer protection regarding quantity, stating, "What we would enforce is that somebody's buying a gallon of gas, we would have to make sure that it is, in essence, a gallon of gas."

He further emphasised that, "We would expect that when we build out, properly build out this consumer protection mechanism, that we will have persons going around, ensuring that what persons are being told that they're being sold, in essence, is what they're actually being sold."

The Consumer Protection Bill will outline the responsibilities of those vendors who provide goods and services to the community, and the rights of the consumers. The Bill will also make provision for a tribunal for the settlement of disputes and complaints.