Gov’t announces reduction in fuel prices
The Ministry of Finance and the Guyana Oil Company has announced a significant reduction in prices for Motor Gasolene and Gasoil (LSD).
Effective February 4, 2019, Super 95 Gasolene will be wholesaled at $208.00 per litre or 4% less, and Gasoil (LSD) at $207.00 per litre or 10% less.
Simultaneously, retail customers will pay $218.00 per litre for Super 95 Gasolene or 4% less and $217.00 per litre for Gasoil (LSD) or 10% less.
“These significant reductions are attributed to a decline in acquisition costs. It will be recalled that the 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,” a statement from the Ministry of Finance noted.