Vehicle owners feel the pinch as gas price climbs

Oct 23, 2018 News

The price earlier this year.

Local gas prices at the pumps have jumped to their highest for the year, around $30 more per litre.
According to prices yesterday at the service stations of the state-controlled Guyana Oil Company (GuyOil), gasoline was $230 per litre. Diesel was $245 while kerosene $159.
Across at Sol on Regent Street, the prices were $230 for FuelSave and $242 for V-Power.
Diesel was going for $244 per litre.
The Rubis’ gas station on Vlissengen Road had $232 per litre of gas while diesel stood at $234.90.
Earlier this year, the state-owned Guyana Oil Company Ltd. (Guyoil) announced a reduction in prices for gasoline, gasoil (LSD) and kerosene with effect from March 9, 2018.
According to Guyoil then, the price reductions were possible due to declining acquisition costs. These savings are now being passed on to customers.
“Gasoline has been reduced by $2.00 per litre, Gasoil (LSD) has been reduced by $10.00 per litre and Kerosene $4.00 per litre.”
Guyoil said it has always been cognisant of its role in the Guyana economy, ensuring that quality petroleum products are provided at excellent prices.
“Our vast network of dealer service stations will continue to ensure that our quality products are made available to you our valued customers along the entire coastland to all the way in Lethem.”
However, it appears that the acquisition costs have been climbing steadily, over US$70 per barrel.
Two or three years ago, the price had been just over US$40 per barrel.
With projections that world prices are expected to further rise, vehicle owners will be bracing them to pay more at the pumps.

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