Why are companies so reluctant to reduce gas and food prices when they come down

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Caribbean countries have been faced with an almost impossible task brought on by recent hike in food and oil prices, that of stabilizing thier economies during these tumultuous times.There rise in oil prices has been especially brutal for the economies of scale because all the energy that they consume is imported and consequently places extreme pressure on these economies to come up with foreign exchange to buy this commodity.In addition to which the poorer class of people with regards finding meals The facts mentioned above are well known and understood , however what is disturbing is that the increase in oil and food prices is often transmitted to the consumer almost immediately when it is announced on the world market .However, when food and oil come down as it has done recently these reduced prices are not transmitted to consumer.i think there needs to be some regulatory mechanism that mandates these companies to transmitt reduced prices as urgently as the increase prices.