The following statement in relation to adjustments in fuel prices was issued by Guyoil earlier today:
The Guyana oil company wishes to announce adjustments in fuel prices with effect from Wednesday, 2016-10 -19 as follows;
The upward adjustment in Kerosene and Gasoil prices by $5.00 per litre respectively, are directly related to increased acquisition cost from source, which is consistent with the current trend of upward movement of fuel prices on the World market. Guyoil had been absorbing these fluctuations but recent movements have made these adjustments necessary.
Conversely, Guyoil is happy to announce a reduction in the price for Gasoline by $2.00 per litre which will not only have a positive impact on individuals who use their vehicles to go to work and conduct business but also on the transportation sector. It ably demonstrates Guyoil’s commitment to act in the interest of all Guyanese and the nation as a whole.
As a Guyanese company which is owned and managed by Guyanese and who is a major contributor to the national coffers, Guyoil continues to contribute in a positive way to the overall development of Guyana and remains steadfast in its commitment as stated in its motto …….“Excellence in Service”