Fuel prices drop across the country, providing relief to consumers

The price of gasoline has decreased at pump stations across the country, bringing significant relief to consumers.

The price charged by the Guyana Oil Company – GUYOIL – was reduced from $215 per litre to $185 per litre.

Prices have also dropped at other stations.

Over the years, the government has progressively lowered the excise tax on both gasoline and diesel.

The most recent reduction, for example, occurred in 2022, when the excise tax was reduced from 10 percent to 0 percent.

This is a major change compared to the reduction from 50 percent to 35 percent.

Back in 2021, the government announced that it would further reduce the excise tax on gasoline and diesel to ease the domestic impact of the continuous rise in world market fuel prices.