Several minibus drivers plying the East Coast of Demerara route today parked their vehicles at the Lusignan tarmac in protest of the rapid hike in fuel and diesel prices over the past week.
A check at the various gas stations shows that the price has increased rapidly from $215 per litre last week to prices ranging from $230 to $250 per litre this week.
As of today, the Guyana Oil company is selling for $230 per litre while $247 is selling for Shell per litre for gasoline.
News Room also spoke with Chairman of the Private Sector Commission (PSC), Eddie Boyer who said the Government should put systems in place to cushion the effects of the increase.
Boyer pointed out that while neither the Government nor the private sector controls the price for oil, there are mechanisms which can be adjusted to ensure the effects are not filtered to businesses and consumers.
“Nobody budgeted for this increase so rapid so obviously it’s for the government to react to it,” the PSC Chairman told News Room at the sidelines of an event at the Marriott Hotel this morning.
Boyer said soon enough taxis and minibuses will increase their fares.
Meanwhile, Minister of Business, Dominic Gaskin said the matter has not been discussed at Cabinet. He noted that while the Government can implement methods, the price has to reach a certain figure for action to be taken.
International reports said oil climbed towards $76 a barrel on Wednesday.
