Dear Editor,
I have been following the fuel prices closely and have noticed today that oil prices have dropped below US$75 per barrel for the first time in the past 6 months. I would like to bring to light immediately that when oil prices rose steeply from mid US$70 per barrel to US$147 per barrel the oil companies did not hesitate to increase their prices. Oil prices started a steady decline for over four weeks now and today I read the following in the Kaieteur News “… prices at the pumps are unlikely to decrease anytime soon given that the current supply of fuel on the markets was purchased at the increased prices and any new supply will incur the new excise tax”.
From my simple calculations I can tell you that even with the increased taxes fuel prices should be about 40% less at the pumps, i.e. approximately $600 per gallon and not $1000 as it is now. In light of this very important issue at the moment the representative organizations have been silent and these include the Private Sector Commission, the Guyana Manufacturing and Services Association, the Trade Unions, the Consumers Association and the Mini-bus Association.
Fuel prices affect the lives of everyone and when fuel prices increase the cost of living increases rapidly so I am appealing to the relevant authorities and the Government to urgently address this matter. Guyanese deserve better treatment than this and we need a government to look after the rights of the ordinary people of this country for it is they who are feeling it the most when these costs increase. We already have to deal with 33% income tax plus 16% VAT on our daily income.
Yours faithfully,
R. Dubraj
