Guyoil cannot enforce any fuel price – AFC, Vision Guyana

Nov 19, 2008 News

The forcible readjustment of gasoline prices at the Chicoramas Fuel Station at Non Pareil, East Coast Demerara, by Guyana Oil Company (GUYOIL) personnel, who were accompanied by four men armed with shotguns, has drawn stern comments from the Alliance For Change (AFC).
Chairman of the AFC, Khemraj Ramjattan, termed the behaviour of the nationally owned gas station as ‘outrageous.’ He explained that since Guyana is a free market economy, as is commonly boasted, if a certain company wanted to reduce its profit margin, it should be able to.
“GUYOIL cannot dictate the price of gas,” highlighted Ramjattan
Ramjattan said that President Bharrat Jagdeo should chastise GUYOIL management and the armed personnel who entered the gas station to forcibly readjust the price of gasoline on the gas pumps.
Chairman of Vision Guyana, Peter Ramsaroop, explained that the Government can only set price parameters, not process. He said that if the management of the Chicoramas Fuel Station wanted to create incentives (like a reduced fuel price) to secure customers, then it should be allowed to.
Some of Satyanand’s customers voiced similar views, saying that they thought that he (Satyanand) should be able to sell his gasoline at whatever price he wanted to, as he was still purchasing the gasoline from GUYOIL at the same rate as everyone else.
“It makes no sense, if he (Satyanand) is buying the gas from them (GUYOIL) at their price. How is it any of their (GUYOIL) concern at what price he sells it back at? If he wants he should be able to give it away; he bought it after all,” one customer said.
However, Ramsaroop noted that if in some way the retailing of fuel at a reduced price was in breach of some contract between the gas station and GUYOIL, then GUYOIL should have pursued the matter through the court of law, rather than entering the gas station, with armed personnel and forcing a price change.
Ramsaroop made it clear that if there were individuals with goodwill in the private sector who wanted to help the consuming public out by offering incentives, they should be given a pat on the back.
The owner of the gas station, Christopher Satyanand, when he effected the initial reduction in the price of gasoline, had said “I have cut my profit margin so that we can meet the man on the streets pocket.”
He added that he hoped that the reduction in the price of gasoline would help persons with their expenses for the upcoming holiday season.
The move by GUYOIL in forcibly raising the prices of the gas pumps at the Chicoramas Fuel Station came after Satyanand lowered his prices to $772 per gallon, some five dollars less than GUYOIL.

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Guyoil cannot enforce any fuel price – AFC, Vision Guyana

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