The Guyana Oil Company (Guyoil) has announced that acquisition costs for fuel have been going up, which from all indications may continue its upward path.
The company said that with effect from tomorrow (Sunday, June 5th), fuel prices will be increased at the company’s pumps across the country.
The full statement follows:
The World market price for oil has demonstrated positive indications that there is an upward trend in the acquisition cost for fuel, which from all indications may continue its upward path. The Caribbean has not been insulated from this movement which was demonstrated recently by movement in acquisition cost from our suppliers in Trinidad.
The Guyana Oil Company Ltd (Guyoil) has always sought to make petroleum products available to the Guyanese population at prices better than the competition, which has once again been demonstrated in our delayed price review.
However, consistent with the trend in the world market, Guyoil wishes to announce a movement in prices at its pumps with effect Sunday June 5th, 2016 as follows:
Guyoil wishes to reassure that we remain committed to providing you our valued customers with petroleum products at the best prices, as we forge ahead in contributing positively to the development of our dear land.
Guyoil will continue to inform you our valued customers of our actions relative to price movement as the situation dictates and we look forward to continue to serve you.