Prices at Shell gas stations to remain the same until it gets new fuel shipment

See below full statement issued by Sol:

Sol welcomes lower excise taxes announcement by the Minister of Finance

Sol, the Shell licensee and authorized distributor of Shell fuels through its network of Shell-branded service stations in Guyana, assures its customers that the prices at the pump for its gasoline and diesel products will be reduced in accordance with the government’s recent announcement of a cut in excise taxes on fuel.

This reduction in excise taxes will be applied to all fuels which were imported by Sol subsequent to the announcement by the Minister of Finance. While the recently announced excise tax reduction took effect immediately, the lowered tax does not have an impact on product that was already purchased at the higher excise rate, and which is currently in storage by Sol.

As a result, in the short-term, prices at the pump for gasoline and diesel which were imported prior to the announcement, will be based on the previous excise tax which that inventory attracted.

Earl Carribon, General Manager of Sol Guyana reiterated, “Sol is committed to our customers and we welcome the government’s policies that have been designed to reduce the cost of fuel to consumers. We look forward to passing on any savings from the government’s reduction in excise taxes to our customers once the current inventory has been depleted”

Sol is a Shell licensee and uses Shell trademarks under license. The views expressed in this release or statement are made by Sol, and are not made on behalf of, nor do they necessarily reflect the views of, any company of the Shell Group of Companies.

The Sol Group of companies operates in 21 countries across the Eastern Caribbean, Jamaica, Puerto Rico, Dominican Republic, Bermuda, Bahamas, Cayman, Belize, Guyana, Suriname, French Guiana, Martinique and Guadeloupe. Sol supplies fuels, lubricants, bitumen and LPG through an extensive service station network, with marine, aviation and commercial operations in the Caribbean. Visit www.solpetroleum.com

For further information, please contact:

Earl Carribon

General Manager

SOL GUYANA INC.

+592 600 1323 (mobile)

[email protected]