The Guyana Oil Company (GuyOil) is to hike gas price by $10 today as world prices
continue to rise.
According to the state-owned entity yesterday, in justifying the hike, the world market price for oil has demonstrated positive indications that there is an upward trend in the acquisition cost for fuel, which from all indications may continue its upward path.
“The Caribbean has not been insulated from this movement which was demonstrated recently by movement in acquisition cost from our suppliers in Trinidad.”
GuyOil stressed that it has always sought to make petroleum products available to the Guyanese population at prices better than the competition, which has once again been demonstrated in its delayed price review.
“However, consistent with the trend in the world market, Guyoil wishes to announce a movement in prices at its pumps with effect Sunday June 5, 2016…”
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