The Energy Chamber of Trinidad and Tobago has urged Caribbean countries to reassess fuel security risks amid disruptions in the Strait of Hormuz, warning that import-dependent systems remain exposed to external shocks.
Its statement, issued on April 23, referenced Guyana’s recent temporary fuel shortage, which raised concerns about supply stability. Several gas stations in Georgetown were briefly closed or rationed fuel, with President Irfaan Ali linking the shortage to external supply disruptions affecting imports.
The Energy Chamber said Guyana’s situation points to a difference between oil production and domestic fuel availability.
“Guyana’s temporary fuel shortage this month was a reminder that oil production and fuel security are not the same thing… For now, however, the main takeaway for the Guyana episode is straightforward: in today’s market, fuel security is not just about producing energy. It is about building a system that can absorb disruption and continue to serve the domestic economy reliably,” the Chamber said.
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For Trinidad and Tobago, the Chamber pointed to continued reliance on imported refined petroleum products since the closure of the Petrotrin refinery in 2018. That structural change, it noted, has left the country dependent on external suppliers for gasoline, diesel, and other fuels.
“Import dependence also means exposure to conditions outside Trinidad and Tobago’s control. Trade data from the Observatory of Economic Complexity (OEC) show that the United States remained Trinidad and Tobago’s main source of refined petroleum in 2024, accounting for about US$1.14 billion of imports, well ahead of other suppliers,” the Chamber outlined.
In the absence of local refining, fuel security now rests heavily on import logistics and storage capacity. That concentration, the Chamber noted, links domestic fuel availability to broader developments in global refining and shipping markets.
“The wider international environment has made those considerations more important. UNCTAD (United Nations Conference on Trade and Development) said on 1 April that traffic through the Strait of Hormuz had fallen from around 130 ship transits per day in February to just six in March, describing the route as a critical artery for global energy trade,” the Chamber said.
The Chamber added that the combined signals from Guyana’s temporary shortage and global shipping volatility underline the need to maintain focus on supply resilience.
