PRESIDENT of the Guyana Oil and Gas Energy Chamber (GOGEC), Manniram Prashad has said that the reduced prices for gasoline and kerosene must benefit the average Guyanese, whether through a reduction in transportation costs or through direct means.

The price for Gasoline at GUYOIL service stations is down to $155 per litre while kerosene is retailed at $90 per litre.
“We welcome the move by Government to reduce the price of gas at the pump and the price for kerosene… naturally, when the acquisition cost drops, Government would bring down the prices so that Guyanese could benefit,” said Prashad.

He said transportation services would often threaten to increase prices, so a reduction would be appropriate at this time.
“We are also hoping that the benefit of these costs of fuel will be passed onto consumers, as it is important they benefit from the reduction,” said the GOGEC president.
Notwithstanding no reduction in the acquisition price, GUYOIL had said it is cognisant of the economic challenges faced by customers, as the country continues to battle with the economic strain of the COVID-19 pandemic.

The reduction covers its mogas (Super 95) gasoil, ultra-low sulfur diesel and kerosene and is effective at all of the company’s service stations across the country.
“As a national entity GUYOIL is always committed to its strategic objective of being the price stabiliser for the nation,” the company said in a statement earlier this week.
The statement added: “Though the company saw no reduction in acquisition cost, GUYOIL is aware of the economic challenges being faced by customers and businesses, as the nation continues to battle COVID-19.

“The company hopes the reduction will bring significant ease to its customers and assures the nation that it will continue to provide its products and services at competitive prices.”