State-owned Guyana Oil Company (GUYOIL) as of yesterday reduced the prices for Gasoline and Gasoil (LSD and the company has said that these price reductions were possible due to lower acquisition cost.
The reduced prices for Super 95 Gasoline and Gasoil are as follows: Retail prices for Super 95 Gasoline are from $224 per litre to $214 per Litre and Gasoil (LSD) from $217 per litre to $203 per litre.
Wholesale prices for Super 95 Gasoline from $214/litre to $204 per litre and Gasoil (LSD) from $207 per litre to $193 per litre.
Additionally, the company said it is always cognizant of its role in the Guyana economy and that it continuously strives to ensure that quality petroleum products are provided at excellent prices.
“Our vast network of Service Stations will continue to ensure that our quality products are made available to you our valued customers along the entire coastland all the way to Lethem.”
In February of this year, gas prices were reduced by 27.44% and 15.85% which saw Super 95 Gasoline being wholesaled at $208.00 per litre and Gasoil (LSD) at $207.00 per litre.
Retail customers paid $218.00 per litre for Super 95 Gasoline or a 30.77% reduction and $217.00 per litre for Gasoil (LSD) or a 19.72% reduction.
A Ministry of Finance release had stated that the government had approached Caribbean Community (CARICOM) for suspension of the Common External Tariff (CET) following the closure of Petrotrin – Guyana’s main fuel supplier. “CARICOM’s subsequent approval also has 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.”
