“Significant reduction” in gas prices from Monday – Finance Ministry

Last Updated on Sunday, 3 February 2019, 20:09 by Denis Chabrol

The Ministry of Finance and The Guyana Oil Company Limited on Sunday announced a “significant reduction” in prices for gasoline and diesel fuel because they are being purchased cheaper.

Starting tomorrow February 4th, Super 95 gasoline will be wholesaled at $208.00 per litre or 4% less, and gasoil (diesel fuel) at $207.00 per litre or 10% less.

Simultaneously, retail customers will pay $218.00 per litre for Super 95 gasoline or 4% less and $217.00 per litre for gasoil (diesel fuel) or 10% less.

“These significant reductions are attributed to a decline in acquisition costs,” the Ministry of Finance said.

The Ministry recalled that the Guyana Government had approached CARICOM for the suspension of the Common External Tariff (CET) following the closure of Petrotrin – Guyana’s main fuel supplier. CARICOM”s subsequent approval would have also led to a reduction in acquisition costs.

“The Government through The Guyana Oil Company is therefore proud to cause these reductions to the benefit of all consumers,” the Finance Ministry added.