Latest update April 1st, 2025 5:37 PM
Fuel reduction… GPL set to lower rates
As oil prices continue to fall on the world market, Guyana Power and Light Inc. (GPL) is set to reduce electricity rates, Government announced
Cabinet Secretary, Dr. Roger Luncheon
yesterday.
Speaking yesterday at his weekly post-Cabinet press briefings, Head of the Presidential Secretariat, Dr. Roger Luncheon, disclosed that the power company seems “favorably disposed” to recent calls by President Donald Ramotar to reduce rates.
There have been increased calls for Guyana to benefit following the world market price drop which fell from US$80 per barrel in recent months to below US$50.
Government recently announced that the state-owned distribution company, Guyana Oil Company (GuyOil) has dropped its prices after taxes were reduced by 30 percent by the administration.
Gas is currently hovering between $650 to $700 at the gas station.
Dr. Luncheon, speaking on the effects of price drop locally, pointed out that it is a fact that cooking gas has seen “modest” reductions in price, hovering around $3,500 for a 20-pound cylinder. Mid last year, it was touching $4,000.
In terms of aviation fuel, there are very little indications that prices going down,
Government has miffed over the refusal of sections of the public transportation system to reduce fares, despite a drop in gas prices.
except for GuyOil’s facility at the Cheddi Jagan International Airport.
The official also criticized the reluctance of operators within the public transportation system who have not yet reduced fares.
While not naming them, Dr Luncheon would be referring to the minibus operators and taxis.
Passengers have continued to complain of no noticeable changes in fares.
Owners of minibuses have been arguing that there are unable to reduce rates as spares and other parts have gone up. In any case, they say, there have not been any significant increases in a while.
Dr Luncheon said that it has been noted that whenever fuel prices climb, there is a corresponding demand to hike fares, but a reduction is “adamantly” being resisted now. It is almost like pulling teeth, he says.
He wondered what would happen if fuel prices climb again.
The spokesman also hinted that Government could be seriously contemplating regulating the public transportation system but Government is yet to agree on the way forward.
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