Guyoil increases fuel price

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The Guyana Oil Company Ltd (Guyoil) has announced an increase in prices for petroleum products at the pumps with effect Thursday September 14, 2017.

According to a statement issued late Wednesday night by Eric Whaul, Marketing & Sales Manager of the Oil Company, gasoline prices have moved upwards by $14.00, Kerosene by $10.00, ULSD Gasoil by $15.00 and Gasoil (LSD) by $6.00.

“Significant increase in acquisition cost at source has made these adjustments unavoidable. While speculations have been pointing to upward movements on the world market for petroleum products in 2017, the recent hurricane activities in the southern hemisphere has exacerbated the situation, forcing a spike in market prices,” the Guyoil statement noted.

According to Whaul, Guyoil had maintained stable fuel prices since January 1, 2017 despite fluctuations, “but unfortunately the present adjustment have become necessary.”

“Guyoil is proud to be the leading petroleum company in Guyana and is committed to continue to provide the Guyanese public with full supply of quality petroleum products at reasonable prices,” the statement concluded.

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