Guyoil raises kerosene prices

Some three months after reducing the prices for fuel across the country, consumers who purchase kerosene oil began paying extra on the price for the crude oil product, as the Guyana Oil Company (Guyoil) announced an increase on the commodity.

The company announced on Thursday that beginning Friday, consumers across the country would be required to pay an extra $5 for kerosene at service stations.

The oil company said the adjustment will see the price being moved from $90 per litre to $95 per litre at service stations in Georgetown, from $91 to $96 per litre in Berbice and $92 per litre to $97 per litre in Essequibo.

The company said despite its efforts to keep the price for the “important commodity as affordable as possible”, the adjustment had become necessary due to an increase in acquisition cost at source.

It said however, that despite the minor adjustment, the price for kerosene is by far much lower than the competition across the Caribbean Region.

In February, the company had announced that the prices of several categories of fuel, including kerosene, were reduced.

The announcement was made official by Finance Minister Winston Jordan in the National Assembly.Kero