Fuel prices climb across Georgetown amid Iran war

Mar 14, 2026 News

…GUYOIL maintains stable costs

(Kaieteur News) – Fuel prices at service stations across the city have spiked with the exception of the state-owned Guyana Oil Company Limited (GuyOil) which continues to retail gasoline at $170 per litre and $190 for diesel.

A visit to other service stations across Georgetown however indicated an increase of at least $15 per litre already as the war in Iran reaches its second week.

Mobil service stations, previously Shell, on Friday afternoon advertised the sale of gasoline at $192 while diesel was advertised at $195 per litre.

Gasoline at the Two Brother’s Gas Station was priced $180 at the pump; diesel prices were not advertised.

Meanwhile, Rubis priced gasoline at 195 per litre and $200 for diesel.

Videos circulating on social media showed a long line of fuel trucks waiting to be loaded as fears of fuel shortage and further price increase looms.

During the presentation of Budget 2026, Finance Minister Dr. Ashni Singh announced that government will continue a zero percent excise tax on petroleum products introduced in 2022. At the time, the minister said this measure will result in government foregoing an estimated $100 billion in revenue annually.

“Government will continue to uphold this measure as a safeguard against the volatility of global energy markets and as a means to mitigate the transmission of high fuel prices to citizens,” Dr. Singh said.

As such, GUYOIL in a statement made it clear that there has been no increase in fuel prices for gasoline, diesel, kerosene, or Ultra-Low-Sulfur Diesel (ULSD) at any of its service stations across the country.

“Any reports suggesting otherwise are false, misleading, and malicious and should be disregarded. GUYOIL urges the public to disregard such claims and rely only on the company’s official prices,” the entity stated.

GUYOIL reminded that the company is guided by a strict regulatory and compliance framework that ensures transparent pricing while safeguarding consumers from undue market volatility. As a state-owned company with a national mandate, GUYOIL said it will continue to work closely with the relevant regulatory authorities to ensure that fuel supply and pricing across its network of service stations remain stable, fair, and consistent with national policy.

The price of petroleum products has climbed due to the war in Iran. On February 28, the state media in Iran confirmed that Supreme Leader Ayatollah Ali Khamenei was killed at his office in the Israeli-US attacks on Iran.

Al Jazeera reported that Iran’s counterattacks triggered air-defence interceptions in several countries where airbases with US assets are hosted, including Kuwait, Qatar, the United Arab Emirates and Bahrain.

Meanwhile, The Guardian reported on Friday that more than 1,000 cargo ships, mainly oil and gas tankers, have been blocked from transiting the strait of Hormuz by the Israeli-US war against Iran after Tehran closed the key maritime passage.

Officials in the Trump administration have suggested ways to get ships moving again, but amid continued Iranian strikes on tankers, and reports that Iran has started mining the narrow waterway, the proposed naval escorts have failed to materialise – even as energy prices have soared.

The strait of Hormuz is the only maritime passage between the Gulf and the Gulf of Oman and the route for about a quarter of the world’s liquefied natural gas and seaborne trade from Gulf countries to reach the global market.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Fuel prices, gas station, Guyoil, Iran war, Rubis

Latest News