The prices for kerosene, gasoline, and gasoil at Guyoil pump stations across the country have increased with effect from January 2, the company said in a statement.
Guyana Oil Company (Guyoil) said the upward movement in prices is as a result of the rise in oil prices on the world market. “These increases are directly related to increase in acquisition cost from source and are consistent with trends in the upward movement of world market price for petroleum products,” Guyoil Marketing Manager Eric Whaul said in a statement.
It was noted that while kerosene and gasoil prices have been increased by $5.00 per litre respectively, Gasoline prices have moved upwards by $12.00 per litre.
“It is instructive to note that Guyoil had reduced the price for gasoline in October 2016, which was consistent with our policy of passing on favourable prices to the Guyanese populace whenever possible,” he said.
Whaul said too that the oil company is proud to have been able to meet the demands of the Guyanese public for fuel in 2016, and looks forward to meeting their demands in 2017.
Last October, while the prices for kerosene and gasoil were increased by $5.00 per litre, the price for gasoline had been reduced by $2.00 per Litre. The company had given similar reasons for the increases but said Guyanese would have benefitted from the reduction in the price for gasoline.
The company had said that “as a Guyanese company which is owned and managed by Guyanese and which is also a major contributor to the national coffers, Guyoil continues to contribute in a positive way to the overall development of Guyana and remains steadfast in its commitment, as stated in its motto ‘Excellence in Service’.”