The Guyana Oil Company Ltd (Guyoil) has announced an upward movement in prices for petroleum products at the pumps which will take effect today [September 14, 2017].
According to the company’s Marketing and Sales Manager, Eric Whaul, significant increase in acquisition cost at source has made these adjustments unavoidable. While speculations have been pointing to upward movements on the world market for petroleum products in 2017, the recent hurricane activities in the southern hemisphere has exacerbated the situation, forcing a spike in market prices.
Guyoil had maintained stable fuel prices since January 1st, 2017 despite fluctuations, but unfortunately the present adjustment have become necessary, Whaul said. Gasoline prices have moved upwards by $14.00, Kerosene by $10.00, ULSD Gasoil by $15.00 and Gasoil (LSD) by $6.00.
Nevertheless, he said that Guyoil is proud to be the leading petroleum company in Guyana and is committed to continue to provide the Guyanese public with full supply of quality petroleum products at reasonable prices.