Guyana records lowest fuel price in the region

As of July 2025, Guyana recorded the lowest petrol price among CARICOM members, retailing at approximately US$0.81 per litre, significantly below the global average.

Other Caribbean countries are selling at US$1.19 and in some instances US$2.00 per litre.

Bar graph illustrating gasoline prices among Caribbean countries

The twin-island’s Chamber attributed this achievement of low fuel prices to the Government of Guyana’s efforts to eliminate the excise tax.

When the government assumed office in 2020, the excise tax stood at 50 per cent; however, it was reduced to 35 per cent in February 2021, then to 20 per cent in October that same year. A further reduction was made to 10 per cent in the 2022 budget, and then to zero.

Due to the government’s actions, Guyanese drivers have experienced lower and stable prices for gasoline and diesel at the pumps.

The Department of Public Information (DPI) spoke with some motorist to get their feedback on how this significant reduction left them with more money in their pockets.

Donrick Isaacs, a taxi driver, said, “I am finally happy that the government has intervened and dealt with the excise tax on gas. I’m a taxi driver, and what the government has done is a big plus for taxi drivers and public transportation personnel,” Isaacs said.

He added, “You know it gives you more. You can go to the gas station now and not worry about how much it will cost to fill your tank or if you have to get extra money.”

Keon Josiah, also a taxi driver, stated, “I feel very good, because we used to pay far more than what we pay for gas right now.”

Aysha Marks, a bank professional, was surprised to discover that the price she was paying at the pump had to do with the policy of the PPP/C Government.

“I did not realise that the price dropped. However, I asked myself on two occasions how it is that I am paying less and getting more. But I am pleased with the reduction and I thank the government for removing the tax,” she said.

Guyana, Haiti, Trinidad and Tobago and Suriname recorded the lowest gasoline prices in the region.