Gas prices at Sol Guyana reduce to $229 and $237 per litre

Five days after Government removed the excise tax on fuel, Sol Guyana has slashed gas prices at all nine of its service stations across the country to $229 for Fuel Save and $237 for V-Power per litre. This was confirmed by General Manager Earl Caribbon during a telephone interview with this publication.
Shell gas stations in the country situated at McDoom, Providence, Regent Street, Camp Street, Vlissengen Road, Ogle, Vreed-en-Hoop, Linden, and Corriverton should reflect the new prices.
Caribbon noted that the company had to wait until taxed stocks were depleted to lower the prices of fuel. He said that the company endeavours to pass on any savings to their customers.
“We are encouraged by the move by Government to remove the excise tax, we think it’s a very beneficial move in terms of providing affordable fuel to consumers. And, we look forward to passing on any savings to customers…,” Caribbon explained.

Diesel prices remain unchanged
Though gas prices at the company’s pumps have been decreased, diesel prices remain unchanged at $249 per litre. The company’s General Manager explained that the price in this regard will be lowered when the firm is in a position to do so.
“Diesel is unchanged at this point in time…if and when there are reductions in landing costs of diesel, that will be passed on to customers accordingly…,” he noted.
Additionally, State-owned GuyOil has made price reductions for gas, retailing gas at $225.
Following Government’s announcement of the removal of the tax on March 23, this publication visited several gas stations in Georgetown and along the East Bank of Demerara (EBD) corridor where the prices remained the same.
Subsequently, several managers had contended that it was too soon to lower the prices.
One manager had said it is not mandatory for privatised gas stations to lower fuel prices, even if it is the wish of the Government.
Vice President Bharrat Jagdeo had on Wednesday last announced that the excise tax on the importation of fuel would be reduced to zero with immediate effect in a move intended to ease the burden of the global rise in the cost of living being experienced by locals.
Natural Resources Minister Vickram Bharrat had explained to this publication that regulatory agencies like the Guyana Energy Agency (GEA) and the Office of the Prime Minister are responsible for ensuring gas stations comply with the requirement to decrease their prices.
“[They] would do some amount of checks and, if possible, enforcement, to ensure there is compliance and that people actually enjoy the benefit of the zero tax on fuel in Guyana…I agree with you that sometimes when we provide incentives and reduce taxes, it is not usually filtered down to the end consumers,” the Minister had said.
As such, he has made a personal appeal to business owners to ensure their prices are adjusted now that they no longer have to pay this excise tax on fuel.
“So, I want to personally make an appeal to all service station owners…we know GuyOil would, of course, reduce their price…that we ensure this benefit reaches the consumer. It would not impact on your profit base because you’re not paying any tax, but our consumers and users on the road should enjoy the benefit… Also, for the commuters who use public transportation, we’re hoping that the taxi drivers and minibus drivers will not increase their fares,” Minister Bharrat posited.
According to the Natural Resources Minister, the removal of excise tax on fuel is expected to benefit the people of Guyana, as the Government is aware of the challenges Guyanese are facing as a result of the rising cost of living on the international scene.
“As the Government, we recognise that there has been an increase in cost of living; and this is a global issue, this is not confined to Guyana, and there are a number of reasons we can give for the steep increase in cost of living…but, as a Government, we don’t want to make excuse that it is not real; all Guyanese and people around the world are facing increase in cost of living,” he said. (G2)