GUYOIL gas prices slashed as of Feb. 4

─ Retail customers to pay $218.00 per litre for Super 95 Gasoline and $217.00 per litre for Gasoil (LSD)

DPI, Guyana, Tuesday, February 5, 2019

The Guyana Oil Company (GUYOIL) has announced a significant reduction in prices for Motor Gasoline and Gasoil (LSD) as a result of lower acquisition costs, the benefits of which are being passed on to customers.

A release from the Ministry of Finance noted that starting from February 4, Super 95 Gasoline will be sold wholesale at $208.00 per litre and Gasoil (LSD) at $207.00 per litre. Retail customers will pay $218.00 per litre for Super 95 Gasoline and $217.00 per litre for Gasoil (LSD).

Marketing and Sales Manager for Guyoil Company, Jacklyn James said that GUYOIL is committed to ensuring that customers benefit whenever there is a lower acquisition cost.

While acknowledging that fuel prices are affected by the activities of the market, James noted that “GUYOIL has been operating at a low bottom line to pass excellent price onto customers.”

Reacting to the gas prices reduction, President of the United Minibus Union, Eon Andrews said that this is a bonus for the public transportation providers.

“Any reduction in gas price is a welcome thing for the public transportation providers… We also recognise that rise and fall in the gas prices will probably determine the price.”

Similar sentiment was echoed by Odessa Smith, a minibus passenger, who noted that commuters, minibus drivers as well as owners of private vehicles should welcome the reduction as it will benefit them all.

The government had approached CARICOM for the suspension of the Common External Tariff (CET) following the closure of Petrotrin, which is Guyana’s leading fuel supplier. CARICOM’s subsequent approval would have also led to a reduction in acquisition costs.

Ayana George.

Images: Derick Bridgemohan.

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