Latest update January 31st, 2025 7:15 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

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.

Similar Articles

The Glenn Lall Show | January, 27th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Savory (95*), Anderson (87*) century stand bails Harpy Eagles out of danger 

Savory (95*), Anderson (87*) century stand bails Harpy Eagles out of...

Jan 31, 2025

2025 CWI Regional 4-Day Championships Round 1…GHE vs. BP Day 2 at Providence  -Champs trail by 31 runs heading into Day 3  Kaieteur Sports- Cracking half-centuries from new Guyana Harpy Eagles...
Read More
Slingerz FC assembles powerhouse squad for GFF Elite League dominance

Slingerz FC assembles powerhouse squad for GFF...

Jan 31, 2025

Project “Cricket Gear for young and promising cricketers in Guyana”, benefits once again from Charandas Persaud 

Project “Cricket Gear for young and promising...

Jan 31, 2025

Everest CC extends best wishes to Looknauth on First Class debut

Everest CC extends best wishes to Looknauth on...

Jan 31, 2025

Sir Clyde Walcott: the captain who led British Guiana to glory

Sir Clyde Walcott: the captain who led British...

Jan 31, 2025

Berbice Cricket Board names squad for senior female Inter County 50over and T20 tournaments  

Berbice Cricket Board names squad for senior...

Jan 31, 2025

Features/Columnists

  • Show us the numbers!

    Peeping Tom… Kaieteur News- The government through its superior management of the economy says that it has bestowed... more

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]