Local fuel prices spike again


Consumers will now have to pay more when refilling their fuel tanks since several private service stations have recently increased their price for fuel.

Inews visited a number of service stations in Georgetown on Saturday where the prices displayed were higher than the slight increase two weeks ago.

At Shell gas station, the price of gasoline increased from $230 to $234 while a litre of V-power now costs $240. Over at Rubis gas station, consumers will now have to pay close to $225 per litre for gasoline.

However, at the state owned Guyoil service stations, the price for a litre of gasoline remained at $220 per litre.

While persons have shared their displeasure with the increased prices, many public transport drivers have expressed that it will affect them if it continues to escalate.

Several minibus drivers on Saturday said that the increase in fuel will ultimately lead to the increase in transportation cost. A route 40 minibus driver told this publication that commuters usually complains when fare increases but they have to understand that the cost of fuel has increased.

“The thing is that the prices always raising and it’s crazy because we’re still working for the same fare. Soon it will grow to a big amount with all [of] this increasing and what will happen then?” he questioned.

In September of 2017, world market prices for fuel increased due to the hurricane conditions in the southern hemisphere, which resulted in Guyoil adjusting the prices in gasoline, diesel and kerosene to a higher cost.

Again, in February of this year, Guyoil adjusted its prices upwards. The average price of gasoline around the world is US$1.15 per liter.


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