Gas prices go up by $12

Jan 03, 2017 News

-diesel, kero by $5

Gas prices at the pumps of the Guyana Oil Company Limited (GuyOil) yesterday jumped

Rubis prices, Providence, East Bank Demerara.

to $12 per litre with the state-owned entity stating that world costs have gone up.

Kerosene and Gasoil (diesel) prices have increased by $5.00 per litre. This means that kerosene will move from $110 per litre to $115 while gasoil from $160 to $165 per litre.

However, gasoline is the big one with prices now at $190 from $178.

The other distributors, like SOL and Rubis, are expected to follow suit shortly. Guyoil has outlets in all three counties.

“These increases are directly related to the increase in acquisition cost from source and are consistent with trends in the upward movement of world market price for petroleum products,” Guyoil said in a statement Sunday.

“It is instructive to note that Guyoil had reduced the price for gasoline in October 2016, which was consistent with our policy of passing on favourable prices to the Guyanese populace whenever possible.”

The new prices at the Providence service station.

In October, GuyOil, citing the same reasons, announced a drop in gas price by $2, hiked prices for gasoil and kerosene by $5.

World oil prices fell from US$100 per barrel more than a year ago to around US$55 yesterday. It had slipped below US$30, amidst a glut on the market and causing worries for producing countries.

However, producers have agreed to cut back production to allow prices to rise.

Guyana is heavily dependent on the imported fossil fuel to meet its energy and transportation needs.

The increases are now:

Pic filed as guyoil

The new prices at the Providence service station.

Pic filed as rubis

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