Georgetown: The Guyana government through its Finance Minister Dr. Ashni Singh on Monday announced reductions in prices for gasoline, diesel and kerosene at the Guyana Oil Company (Guyoil) Stations.
The reduced prices will become effective from January 19 at Guyana Oil Company stations countrywide. The minister urged other suppliers to also take steps to reduce the cost at their respective outlets.
The minister at a press conference revealed that gasoline will be reduced from G$999 to $695 per gallon, diesel from $985 to $694 per gallon and kerosene from $850 to $496 per gallon.
The Minister explained that in keeping with the mechanism to adjust taxes on fuel, gasoline will now attract excise taxes at a rate of 50% and diesel at a rate of 42% with effect from January 20. The reduction in the cost for fuel is in keeping with the declining cost for oil on the international market.
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