Effective from today, the price of gasoline will be reduced, while the prices of gasoil and kerosene will be increased by the Guyana Oil Company (Guyoil).
According to a press statement issued by the company, gasoil and kerosene prices will be increased by $5 per litre, while gasoline would be reduced by $2 per litre, which is expected to have a positive impact on motorists.
The statement ex-plained that the reason behind the increases in the prices for gasoil and kerosene is directly related to the acquisition cost from the source, which is consistent with the rising fuel prices on the world market.
“Guyoil had been absorbing these fluctuations but recent movements have made these adjustments necessary,” the statement added.
In reference to the drop in gasoline, the statement said, “It ably demonstrates Guyoil’s commitment to act in the interest of all Guyanese and the nation as a whole.”