The Private Sector Commission (PSC) said it remains concerned that fuel prices in Guyana are not reflective of the global trends where prices are low, and fears that the competitiveness of local manufactures, farmers and service providers will be lost if urgent action is not taken.
In a media release issued this afternoon, the PSC said if these trends continue, imports will be cheaper on the local markets and certain local production will diminish whilst exports will be more expensive.
The organisation explained that with record lows in oil prices being translated into low prices at the pump in most countries, Guyanese consumers and manufacturers are still paying almost US$4.50 per gallon which is almost double the prices in some developed economies.
“The Private Sector Commission calls upon government to review the prices of fuel, in particular at the state owned Guyana Oil Company, and consider a reduction in electricity rates so that the benefit of the lower oil prices can provide relief to consumers who are suffering from reduced disposable income”, the statement added.
The PSC noted at this time when the economy is still reeling from the effects of the elections-induced slowdown in 2015, lowering the cost of fuel and electricity would provide a much needed stimulus to the recovery of the sluggish economy.
If was PPP/C in Government…it would have been big protest in Guyana… nobody is seeing anything now
PNC+AFC has run the sugar, rice, gold dead….oil & gas is coming and looks like they are planning on killing that even before it at infancy..little grey matter..
Gas price is just $30.00 a barrel what the hell is going on in Guyana.
Fuel prices too high in Guyana…Private Sector calls on Govt to undertake urgent review.
The only 2 bright bulbs keeping PNC alight are high Gas price and high Electricity rates…But no prob in Linden..Lindeneres wills oon be crying $5 rates too high too for them..
Once PNC drop the price of those two you bet you are bound to hear these words from another PNC dunce Jordon “Guyana Bankrupt”
PNC really banking on oil oil oil but so this is why PNC could care less for rice and sugar..
PNC thinking is that once rice / sugar dead it mean there will be no PPP.
” lowering the cost of fuel and electricity would provide a much needed stimulus to the recovery of the sluggish economy.” isn’t this the commonsense thing to do? Why is the rogue gov putting a deaf ears on the needs of the ppl –it shows the level of incompetence with this gov.a bunch or morons.Where is naga and ramjaat the stooges?
In America current price is a $1.50 in other state is less. So I don’t see why people have to pay that much in Guyana. Oh I forgot Ramjattan and Nagamotto have all the answer. Just a bunch a jack ass!