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GuyOil experiences fuel shortages

Jun 04, 2012 News

 

 

Checks to a few of the GuyOil Gas Station locations yesterday revealed that there is a significant shortage in fuel countrywide.
While some, like the Providence location did not have any fuel as of last evening, the ones in Victoria, East Coast Demerara, and West Coast Berbice do not have much to facilitate a major purchase.
This is despite the Government’s assurance that it will keep the prices stable so as to not facilitate a hike in minibus fares.
Kaieteur News understands that the Guyana Oil Company has been experiencing shortages for at least a week now, and minibus operators are being forced to purchase fuel from other service stations at a higher price.
Meanwhile, it was confirmed that some of the privately owned service stations have applied an increase to their prices as result of the shortages.
President of the United Minibus Union, Mr. Eon Andrews, told Kaieteur News he was invited to a meeting with GuyOil, and was made to understand that the company has suffered losses amounting to millions of dollars because of this.
He noted that though minibus operators are purchasing fuel at the hiked price, they have not raised their fares, and are trying not to do so at this time.
From 15 per cent, the excise tax had been lowered to 10 per cent during early May of this year.
According to the Government Information Agency, the Minister had explained that this decision was taken in light of the upward movement in the imported cost of gasoline.
“The acquisition price on the last shipment of gasoline bought by GuyOil was US$142.85 per barrel which is an increase of 19.7 percent above the acquisition price of US$119.32 per barrel at the end of last year,” GINA had quoted.

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