The Guyana Oil Company Limited (GUYOIL) has announced a reduction in prices for Gasolene and Gasoil (LSD) as of Friday, June 28.
The reduced prices for Super 95 Gasolene and Gasoil are as follows: Retail prices for Super 95 Gasolene 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 Gasolene from $214/litre to $204 per litre and Gasoil (LSD) from $207 per litre to $193 per litre.
GuyOil stated these price reductions were possible due to lower acquisition cost.
Additionally, it is always cognizant of its role in the Guyana economy and continuously strive 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 a 27.44% and 15.85% which saw Super 95 Gasolene 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 Gasolene 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.”