Although the general economy of Grenada is free market, a number of staple items are price controlled by the government, resulting in only predetermined markups being allowed. These include grocery items such as butter (7.5%), rice (7.5%) and chicken (12.5%) and a host of general items such cement (33.3%), drugs (5.0%) and nails (20.0%) (IMF, 1999). In addition, fuels such as gasoline, kerosene, diesel and liquid petroleum gas (all at 0.95% markup) experience similar government controlled price stabilization (IMF, 1999). From 2008 to 2013, the government of Grenada has become increasingly involved in the setting of gasoline prices, setting specific prices for fuel and essentially nationalizing the industry. As of June 2013 the cost for an imperial gallon of gasoline was $15.95 Eastern Caribbean Dollars ($5.81 USD) (GIDC, 2013). The impetus for such government intervention into pricing appears to be rooted in previous socialist/communist leanings (late 1970’s and early 1980’s) coupled with a fear of monopolistic control and exploitation by a small number of individuals/corporations (Steele, 2003).